Potomac Tech Wire - April 30
Satellite-Giant SES to Acquire McLean’s Intelsat in $3.1 Billion Deal
o Satellite-Giant SES to Acquire McLean’s Intelsat in $3.1 Billion Deal
o DC-Based Sublime Security Raises $20 Million for Email Security
o EY Names Finalists for Mid-Atlantic Entrepreneur of the Year
o Leesburg-Based CASE Merges with Herndon’s CyberKinetics
o Chantilly-Based VTG Acquires Vana Solutions
o UMD Launches Center for Artificial Intelligence in Business
o Briefly Noted: Lynk Global, Anzu Partners, MAG Aerospace
Satellite-Giant SES to Acquire McLean’s Intelsat in $3.1 Billion Deal
McLean, Va. – In a major acquisition of a leading company in the DC region’s tech ecosystem, SES, the Luxembourg-based satellite communications giant that provides video and data connectivity, said early Tuesday that it will pay $3.1 billion to acquire Luxembourg-based counterpart Intelsat, which bases its administrative headquarters in McLean. The deal, which is subject to regulatory approvals, is expected to close by the end of 2025. Both companies’ boards have approved the deal, which also has been backed by Intelsat shareholders representing 73% of the company’s stock. SES said the move will expand its multi-orbit satellite-based capabilities, spectrum portfolio and global ground network. For Intelsat, it’s the culmination of a two-year turnaround that returned the company to growth following 10 years of decline. “This strategic pivot sets the foundation for Intelsat’s next chapter,” said CEO David Wajsgras. The combined company will continue to be headquartered in Luxembourg, while maintaining a “significant presence” in the DC area.
DC-Based Sublime Security Raises $20 Million for Email Security
Washington, DC – Sublime Security, the DC-based developer of an AI-powered, programmable email security platform, said it has raised $20 million in its first round of funding, led by Index Ventures. Previous backers Decibel Partners and Slow Ventures also took part in the round, which the company will use to bolster its platform and improve customer experience. Crowdstrike co-founder and former CTO Dmitri Alperovitch is also participating in the round as an individual and will join the company’s board of directors. Sublime’s core platform is designed to give security teams the ability to detect and prevent complex email attacks.
EY Names Finalists for Mid-Atlantic Entrepreneur of the Year
Washington, DC – EY has named 30 finalists for its 2024 Entrepreneur of the Year for the Mid-Atlantic region, which encompasses Maryland, Virginia and DC. The company said the finalists, available here, were selected by an independent panel of judges based on their “demonstration of long-term value through entrepreneurial spirit, purpose, growth and impact,” among other attributes. Regional award winners will be announced in June.
Leesburg-Based CASE Merges with Herndon’s CyberKinetics
Leesburg, Va. – CASE, a Leesburg-based provider of software development and cloud engineering services to the U.S. intelligence community, said it has merged with Herndon-based CyberKinetics, a provider of cloud-based services and cyber tools to the national security community. Financial terms of the deal were not disclosed. CyberKinetics’ management team will remain with the combined organization, with CEO Brandon Lally becoming chief customer officer. Paul Farmer, the CEO of CASE, said the move “provides the scale necessary to pursue larger contracts and provide additional opportunities for our employees.”
Chantilly-Based VTG Acquires Vana Solutions
Chantilly, Va. – VTG, a Chantilly-based provider of technology focused on national security, said it has acquired Ohio-based Vana Solutions, a provider of digital transformation services. Financial terms of the deal were not disclosed. Founded in 2005 by Srujal Sheth and Sunit Sheth, Vana delivers secure cloud environments, data fabric and advanced analytics to national security agencies. VTG said the acquisition, the company’s first since landing a majority investment from A&M Capital Partners in September, will allow it to expand its digital transformation and cloud services, while also bolstering its client base.
UMD Launches Center for Artificial Intelligence in Business
College Park, Md. – The University of Maryland's Robert H. Smith School of Business last week launched its Center for Artificial Intelligence in Business, which the school will use to conduct research and outreach centered on the use of AI in business. The center, which aims to tap into the school's research and faculty expertise in AI, analytics and data science, will work in conjunction with the university's newly announced Artificial Intelligence Interdisciplinary Institute at Maryland (AIM). "Organizations are increasingly turning to AI to redefine processes and improve productivity, customer experience, and decision-making," says Prabhudev Konana, dean of the Smith School. “The center positions Smith to more effectively bring that expertise to businesses, policymakers and institutes, researchers, students and the broader community."
Briefly Noted:
(Falls Church, Va.) Falls Church-based Lynk Global, a provider of satellite-to-phone services, said it has won a new contract from the Defense Information Systems Agency (DISA). Under the deal, the company will provide its services to the Department of Defense, Department of Homeland Security and other U.S. government agencies.
(Washington, DC) DC-based technology investment firm Anzu Partners said it has promoted Patrick Harrington, Kyle McQuighan and Wendy Papakostandini to principals across its business services teams. Harrington leads fund finance, McQuighan leads capital solutions and investor relations and Papakostandini leads talent at the firm.
(Fairfax, Va.) Fairfax-based MAG Aerospace, a developer of command and control systems, has named Paul Maddison, a retired vice admiral in the Canadian Navy, to its advisory board. Maddison most recently served as director of the University of New South Wales Defence Research Institute, and previously spent 37 years in the Canadian Armed Forces.