Potomac Tech Wire - April 23
Vantage Data Secures $3 Billion in “Green Loan”; Major Local Presence
o Vantage Data Secures $3 Billion in “Green Loan”
o DC-Based CoStar Group to Acquire Matterport in $1.6 Billion Deal
o 3SI + Wren Merges with Ashburn-Based Edge360
o DC-Based AI Squared Raises $13.8 Million to Accelerate AI Adoption
o Rockville-Based DrFirst Acquires Myndshft Technologies
o Falls Church-Based GDIT Launches Digital Engineering Accelerator
o Briefly Noted: Two Six Technologies, Exostar, Xcelerate Solutions, Lightshift Energy
Vantage Data Centers Secures $3 Billion in “Green Loan”; Major Northern Virginia Presence
Ashburn, Va. – Vantage Data Centers, the large data center company with significant operations in Northern Virginia, announced that it has secured $3 billion in “green loans” for its North American expansion, including a massive new third campus in Northern Virginia. The loans came from a bank syndicate including Wells Fargo Securities, TD Securities, Truist Securities and Scotiabank. Vantage's third campus in Northern Virginia, known as VA3, will have 2.3 million square feet of space when fully developed. The company, headquartered in Denver, said the new financing came under its Green Finance Framework, which is based on environmental, social and governance principles. In January, the company announced a $6.4 billion equity investment led by DigitalBridge and Silver Lake.
DC-Based CoStar Group to Acquire Matterport in $1.6 Billion Deal
Washington, DC - CoStar Group, the DC-based provider of online real estate marketplaces and analytics, said on Monday it will acquire Silicon Valley-based Matterport, the developer of a tool that delivers 3D virtual tours of properties, in a cash and stock deal valued at $1.6 billion. Under the deal, expected to close later this year, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar for each share of Matterport. Matterport’s technology allows users to digitize a property using a variety of camera technologies, including cameras found on most smartphones. The company also produces a line of 3D capture devices. CoStar, which in February announced plans to move to Arlington, operates sites such as Apartments.com, LoopNet and Homes.com, which all feature Matterpot’s 3D virtual tours.
3SI + Wren Merges with Ashburn-Based Edge360
Ashburn, Va. – 3SI + Wren, a Pennsylvania-based developer of security technology for law enforcement, said it has merged with Ashburn-based Edge360, a developer of video management software that offers risk management methodologies and analytics. Financial terms of the deal were not disclosed. The combined company, with nearly 400 employees, develops products for the entire crime cycle, from detection and deterrence to apprehending criminals. Edge360 was established in 2010 by John Rezzonico and Bill MacKrell. The company initially served as a systems integrator focusing on security projects, but eventually developed its core video management system, known as Surveill.
DC-Based AI Squared Raises $13.8 Million to Accelerate AI Adoption
Washington, DC – AI Squared, the DC-based developer of a technology platform designed to help organizations deliver data and AI insights into business applications, said it has raised $13.8 million in its first round of funding, led by Ansa Capital. Previous backers New Enterprise Associates and Ridgeline also took part in the round, which the company will use to expand its team and further develop its platform. Allan Jean-Baptiste, Ansa Capital’s co-founder and general partner, will join the company’s board of directors. Roger Ferguson Jr., former vice chairman of the Federal Reserve and board member of Alphabet, also has invested and will join the board.
Rockville-Based DrFirst Acquires Myndshft Technologies
Rockville, Md. – DrFirst, a Rockville-based developer of healthcare information technology, said it has acquired Arizona-based Myndshft Technologies, a developer of real-time medical benefits and automated prior authorization software. Financial terms of the deal were not disclosed. Founded in 2018, Myndshft is the maker of a platform that uses AI, machine learning and robotic process automation to streamline prior authorization and related services for both medical and pharmacy benefits. “This acquisition will allow us to expedite patients' access to…treatments,” said G. Cameron Deemer, the CEO of DrFirst.
Falls Church-Based GDIT Launches Digital Engineering Accelerator
Falls Church, Va. – General Dynamics Information Technology (GDIT), a Falls Church-based IT unit of General Dynamics, said it has launched a new accelerator aimed at helping to develop and test complex government systems. The company said its Ember Digital Engineering Accelerator will use modeling and simulation capabilities to help advance projects ranging from weapons systems to enterprise IT networks, before any production begins. GDIT said it’s already leveraging its digital engineering capabilities for crucial defense initiatives, including a weapons system for the U.S. Air Force and digital infrastructure for the U.S. Space Force. In addition to military applications, the company plans to use Ember to support projects such as healthcare analytics, smart cities and cybersecurity.
Briefly Noted:
(Arlington, Va.) Arlington-based Two Six Technologies, a provider of technology-focused products and services to national security customers, has named Dan Bono as its senior vice president of intelligence solutions. Bono spent his 23-year career prior to joining Two Six with government contractor CACI International, where he eventually became vice president of cyber missions operations.
(Herndon, Va.) Herndon-based Exostar, a developer of business collaboration tools for highly regulated industries, has named Rick Simpson as its CFO. Simpson, most recently the CFO of CB Insights, takes over in the aftermath of the company’s recent acquisition by private equity firm Arlington Capital Partners.
(McLean, Va.) McLean-based Xcelerate Solutions, a provider of enterprise security, strategic consulting and digital transformation services, has named David Kapusta as its executive vice president of integration. Kapusta most recently served as the COO and president of operating units within NTT Data Federal.
(Arlington, Va.) Arlington-based Lightshift Energy, a developer of utility-scale energy storage technology, has named Robert Greskowiak as its chief commercial officer. Greskowiak most recently served as the vice president of origination at Invenergy.