February 15, 2024: Trident Systems to Invest $3.7 million in Fairfax County Expansion + Weekly Business News Digest

Weekly Business News Digest

Ta-da! UVa. Northern Virginia to open Fairfax campus: The University of Virginia is expanding its Northern Virginia presence with a big lease at Inova Health System’s Merrifield campus, where it will offer many of its Charlottesville programs to Greater Washington, reported Washington Business Journal in subscriber content. The institution, which already occupies space in Arlington, is building out 55,000 square feet at the Inova Center for Personalized Health to establish UVa. Northern Virginia’s Fairfax campus. The move will allow the prestigious university to serve a population that would otherwise be difficult to capture, said Gregory Fairchild, dean and CEO of UVa. Northern Virginia. “We’re well known in this market, but what we want to do is let people know that we’re here,” said Fairchild, also associate dean for the university’s D.C.-area initiatives and academic director of public policy and entrepreneurship.

Opportunity is the way: Palo Alto Networks, a Santa Clara, California-based cybersecurity company with a market capitalization of about $107 billion, has inked new space at one of Boston Properties’ new trophy office towers in Reston Town Center, according to a source familiar with the lease, Washington Business Journal reported in subscriber content. Palo Alto Networks currently leases space for its public sector office at RTC West suburban office campus at 12110 Sunset Hills Road in Reston, owned by a joint venture of Fortress Investment Group and JBG Smith Properties. The new lease was signed Jan. 12 for 58,000 square feet just across the street in the recently completed 20-story tower at 1950 Opportunity Way — one of two buildings marking the beginning of Reston Town Center’s nearly 5 million-square-foot next phase of development, steps from the Silver Line’s Reston Town Center Metro station. Palo Alto Networks, Boston Properties, Fortress Investment Group and JBG Smith declined to comment on the lease to the Washington Business Journal at the time of publication.

Eclipse glasses not needed: Arlington, Va.-based BlueHalo, which has locations in Chantilly, Reston and Herndon, announced it will acquire Herndon-based Eqlipse Technologies, a provider of differentiated products and solutions to the Department of Defense and Intelligence Community.  Bolstered by Eqlipse’s high-end technical talent and suite of innovative products, BlueHalo will deliver enhanced scale and broader capabilities to its customers, accelerating the development and fielding of its advanced defense technologies. The combined entity will have a total employee count of nearly 2,400 across 11 states and annual revenue approaching $1 billion. The transaction is expected to close in Q1 2024 and current BlueHalo Chief Executive Officer, Jonathan Moneymaker, will lead the combined company.

Things are only impossible until they’re not: The pace of innovation in the space sector is picking up thanks in part to artificial intelligence and machine learning, according to SpaceNews in an article by Debra Werner. Customers of Amazon Web Services (AWS), which bases its east coast headquarters in Herndon, for example, are designing spacecraft parts with generative AI. The parts are then 3D-printed and run through a battery of tests. The process leads to rapid iteration of designs that are “very intuitive and very innovative at the same time,” Alistair McLean, AWS Satellite Solutions principal architect, said Feb. 7 at the SmallSat Symposium in Mountain View, California. AI also is helping Herndon-based HawkEye 360 identify radio frequency emitters worldwide. All this progress would not be possible, the SmallSat panelists said, without cloud computing providers that give them access to extensive computing resources. While those resources remain on Earth, growing space activity has prompted companies to consider space-based clouds. The AWS Snowcone, an edge computer, traveled to the International Space Station  in 2022. Since then, AWS has conducted a series of demonstrations with partners. In 2023, for example, Reston-based SpiderOak demonstrated its OrbitSecure cybersecurity software by transmitting data between ground networks and low-Earth orbit.

Strategic positioning: Finnish startup Kuva Space announced plans Feb. 7 to establish Kuva Space U.S. in Fairfax, SpaceNews reported. Former Iceye U.S. CEO Jerry Welsh, a Kuva Space U.S. board member, is leading the company’s campaign to provide hyperspectral insights to U.S. government customers. Kuva Space selected Fairfax to “strategically positioning ourselves at the heart of the intelligence community and in close proximity to Washington D.C. and maritime security services customers based in Maryland,” Welsh said. “These locations represent three key markets that we aim to engage, develop strong relationships, and build collaboration and support.” Kuva Space raised $17.6 million in a Series A funding round last year. Breaking Defense has more.

New tack: Tysons-based Spire Global, a global provider of space-based data, analytics and space services, and London, U.K.-based Signal Ocean, a shipping technology provider, have agreed to partner to drive digitization of the maritime economy. Under the agreement, Signal Ocean will take a $10 million stake in the business. “Signal, as a group, brings deep knowledge of the maritime domain gained over years through the operation of commercial ships, the development of proprietary analytics tools and its multiple, successful investments across shipping, logistics and the commodities space,” said Peter Platzer, CEO of Spire Global. “We’re thrilled to leverage Signal’s expertise in combination with Spire’s unique data capabilities to drive meaningful innovation that transforms the way we understand and navigate the maritime domain.” Smart Maritime Network and SatNews have more.

And a bit of smooth Saylor-ing: Tysons-based MicroStrategy‘s move of rebranding itself as a “Bitcoin development company” is only “natural,” MicroStrategy co-founder and executive chairman Michael Saylor said in an interview with CNBC’s “Closing Bell Overtime” on Monday, International Business Times reported. Saylor said it was only a “natural decision for us, given the success of our Bitcoin strategy.” MicroStrategy announced in its fourth quarter 2023 earnings call that it now has total holdings of 190,000 BTC, worth $8.1 billion, based on the holdings’ market value last week. Saylor explained that the business software firm, in its rebranding, will “develop software,” generate cash flow, and leverage capital markets “all in order to accumulate more Bitcoin for our shareholders, and also to promote the growth of the Bitcoin network.” Watch the video here.

Georgia on my mind: Centreville-based Avenu Insights & Analytics, a portfolio company of Bethesda’s Arlington Capital Partners, has acquired Judicial Innovations, an Alpharetta, Georgia, firm whose software is used to help local jurisdictions collect probation-related fees, according to the Washington Business Journal. The deal comes weeks after Avenu bought the state and local government division of Muncie, Indiana, payment solution provider Finvi and less than five months after Arlington Capital Partners bought Avenu from New York private equity firm Mill Point Capital.

Foxy move: Cape Fox Federal Contracting Group (FCG) relocated to a new state-of-the-art office in Chantilly, according to Yahoo Finance. The move will enable the company to expand its operations and provide outstanding service to its customers and employees, according to the company. “This expansion marks a significant milestone for our company, showcasing our commitment to growth and excellence in government contracting,” said Chris Luchtefeld, CEO of Cape Fox Corporation.

Win-win: Tysons-based Xcelerate Solutions, a defense firm backed by McNally Capital, announced that it has merged with Fairfax-based VMD, a cybersecurity and infrastructure security firm. The combined company, which will have over 1,000 employees, will be called Xcelerate Solutions. “We see this merger as a win-win. We share similar cultures, like-minded leadership, and a deep commitment to delivering positive mission outcomes,” said Mark Drever, Chief Executive Officer of Xcelerate. “Since the investment from McNally Capital, we’ve been actively looking to expand our security and IT capabilities through M&A. VMD is a great match.”

This could be para-para-paradise: Fairfax County’s first winery, Paradise Springs Winery, is part of an exclusive contingent from the Commonwealth of Virginia as it becomes one of just six state wineries was showcased on the global stage at the 5th Wine Paris Vinexpo Paris this week, bringing Fairfax County’s wine scene into the spotlight, Potomac Local News reported. Paradise Springs, nestled in Fairfax County’s bucolic town of Clifton, has been family-owned and operated for 18 years. The historic property where the winery is located was part of the original land grant from Lord Fairfax in 1716 to the family’s direct ancestors and has been passed down through the generations since.