Washington area business diary for week of ... - The Outsource Blog

Short takes on the week?s announcements and deals.

Acquisitions

Fairfax-based telecommunications and IT network service provider DBR360 said it has acquired New Jersey-based networking technology firm Hailer IT Solutions. Terms were not disclosed.

Reston-based government IT provider CRGT said it has completed its previously announced acquisition of Colorado-based IT outsourcing and software consulting company Ciber. Terms were not disclosed.

Chicago-based energy company Exelon said that it has completed its previously announced $7.9 acquisition of Baltimore-based Constellation Energy.

Contracts

Bethesda-based Urgo Hotels said it has signed a long-term management agreement to operate the Whiteface Lodge Resort and Homeowner?s Association in Lake Placid, N.Y.

District-based nonprofit Washington Animal Rescue League has hired District-based Qorvis Communications as agency of record.

Expansions

Dubai-based airline Emirates said it will begin offering daily round-trip flights from Dulles International Airport to Dubai Sept. 12.

Bethesda-based Activity Rocket, the developer of a Web site to help parents search for and compare activities for their children, said it has expanded beyond Montgomery County to include the District and Fairfax County.

Funding

District-based IndustryDive, which provides industry-specific mobile apps and Web sites for executives, said it has raised $400,000 in seed funding.

Fairfax-based technology contractor ICF International said it has expanded its credit facility to allow it to borrow up to $500 million. The five-year senior secured credit agreement allows revolver borrowings of up to $400 million, and also include an accordion feature that would allow the facility to expand by another $100 million.

District-based technology accelerator The Fort named 12 companies that are to participate in its six-month start-up program: CoFoundersLab, Feastie, Forensic Innovations, Hinge, Klaggle, Lemur IMS, MonthsOf.Me, NextGame, Saylo, Social Tables, Uppidy and Venga. Each company will receive $100,000 in funding and mentoring and other services.

Arlington-based real estate developer Shooshan Co. said it has secured a $71.1 million nonrecourse loan from SunTrust Banks for the development of The Place, a 17-story, 257-unit Class A residential tower under construction at 4000 Wilson Blvd. in Arlington.

Moves

Law firm Thompson Hine said it has moved its Washington office to 1919 M St. NW, Washington, DC 20001.

New products & services

Vienna-based tech company Dub Labs said it is now offering CircleBack, an app that pulls together a user?s business contacts from different sources.

Other

Sterling-based network services company Neustar said it will resume its three-year program to repurchase up to $300 million in stock. The program originally started in 2010, but was terminated when Neustar announced a $250 million tender offer. The company still has $185.2 remaining under the program.

Pharmaceuticals

Silver Spring-based United Therapeutics said that it has filed a lawsuit in U.S. District Court in New Jersey against Sandoz Inc. claiming infringement of patents relating to its Remodulin drug.

Start-ups

Capture 10, a new high tech and aerospace consulting firm founded by former SpaceX executive Lawrence Williams, said it is to open its headquarters in the District in April.

Source:http://www.washingtonpost.com/business/capitalbusiness/washington-area-business-diary-for-week-of-march-19/2012/03/15/gIQAfJWeLS_story.html

Source: http://www.theoutsourceblog.com/2012/03/washington-area-business-diary-for-week-of-march-19/

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