Potomac Tech Wire -March 25

Rockville-based Nuclean Energy Company X-energy Files for an IPO

o Rockville-based X-energy Files for an IPO
o Washington Harbour Partners Invests in Striveworks
o Bethesda-based Fasoo Inc. Merges with AI Company
o Arlington-based AeroVironment Acquires ESAero
o Arlington Capital Partners to Acquire Australian Firm
o Innovative Systems Acquires DC-based Startup Actifai
o SBA Moving District Office from DC to Herndon
o Agero to Acquire Ashburn-based Urgently for $5.50 Per Share
> Tech Wire Event: M&A Outlook 2026 - April 15 (Reston, Va.)
o Briefly Noted: Public Policy Holding Company, By Light Professional IT Services, Hyper, iGov Technologies, Xcelerate Solutions, Seekr - General Dynamics Information Technology

Rockville-based X-energy Files for an IPO

Rockville, Md. – In one of the most anticipated public offerings for the DC region in years, Rockville-based X-energy, the developer of small nuclear reactors, has filed paperwork with the SEC for an initial public offering. The company plans to list on the Nasdaq with the ticker symbol “XE.” X-energy, which develops modular nuclear reactors, has raised over $700 million in venture capital, including a $200 million round earlier this year. Amid growing energy demand from AI data centers and an embrace of nuclear power by the Trump Administration, X-Energy is operating in a booming sector of the power market.

Washington Harbour Partners Invests in Striveworks

Washington, D.C. – Striveworks, a developer of AI software for national security agencies, has secured a Series B strategic growth investment led by Arlington-based Washington Harbour Partners. The amount of the investment was not disclosed. Austin-based Striveworks, which also maintains a presence in the D.C. area, plans to use the capital to expand its engineering and R&D teams. The company’s platform is used by defense and intelligence agencies to deploy AI models in the field.

“National security demands speed – the ability to detect, decide, and act before your adversary does. AI makes that speed achievable, and our software delivers AI that is effective in the field, adaptable to the mission, and trusted by the people responsible for outcomes,” said James Rebesco, co-founder and CEO of Striveworks. “Our partnership with Washington Harbour Partners positions us to scale now to meet the urgent demand for what we’ve spent years building and proving.”

Bethesda-based Fasoo Inc. Merges with AI Company

Bethesda, Md. – Fasoo Inc., the Bethesda-based subsidiary of the South Korean data security firm Fasoo, and Connecticut-based Konsilix have reached an agreement to merge their operations and form a new enterprise AI entity called Symbologic. The transaction is expected to close by the end of April. The deal combines Fasoo’s expertise in data security with Konsilix’s conversational AI platform.

“As AI transformation becomes central to sustained growth and competitiveness, organizations must be ready to securely adopt AI and operate agentic applications,” said Kyugon Cho, CEO of Fasoo. “By combining Fasoo’s expertise in AI, data, and security with Konsilix’s AI solutions and consulting capabilities, Symbologic delivers business-ready agentic AI applications alongside AI data and governance infrastructure.”

Arlington-based AeroVironment Acquires ESAero

Arlington, Va. – AeroVironment, the Arlington-based defense tech company, has acquired California-based Empirical Systems Aerospace, Inc. (ESAero), a specialist in unmanned aircraft systems, in a deal valued at approximately $200 million. The transaction consists of $160 million in stock and $40 million in cash. The acquisition marks the second major deal by AeroVironment, following its $4.1 billion purchase of BlueHalo in 2025. ESAero will operate as a subsidiary in AV’s Precision Strike and Defense Systems group.

Arlington Capital Partners to Acquire Australian Firm

Bethesda, Md. – Arlington Capital Partners, the Bethesda-based private equity firm specializing in government-regulated industries, has reached an agreement to acquire Eptec Defence, a provider of repair services for the Royal Australian Navy. Terms of the deal were not disclosed. Eptec Defence is a division of the Sydney-based Eptec Group. Arlington Capital has named Steve Zogas, a veteran of the U.S. naval ship repair industry and former CFO of Vigor Marine, as CEO to lead the company’s global growth.

“Access to specialized preservation services in strategic geographies will be critical to improving naval readiness,” said Peter Manos, a Managing Partner at Arlington Capital Partners. “With demand for such services increasing due to growing fleet sizes and higher operational tempo, we believe Eptec, paired with Arlington’s deep expertise building naval and defense businesses, is well-positioned to meet this challenge and reinforce its position as the ‘gold standard’ in the industry.”

Innovative Systems Acquires DC-based Startup Actifai

Washington, D.C. – Innovative Systems, a provider of billing and subscriber management platforms for broadband and utility companies, has acquired DC-based AI startup Actifai. Financial terms of the deal were not disclosed. Actifai, which launched in 2019, will operate as a wholly owned subsidiary. The company’s platform uses “agentic AI” to automate workflows for internet service providers.

“AI is most powerful when embedded within real operational systems and subscriber interactions,” said Scott Alcott, CEO of Innovative Systems. “Partnering with Actifai enables us to help providers take action faster, improve outcomes, and automate more of the work that drives their business.”

SBA Moving District Office from DC to Herndon

Herndon, Va. – Citing accessibility and parking issues, the U.S. Small Business Administration (SBA) has relocated its Washington Metro Area District Office from downtown D.C. to Herndon. The move to 13221 Woodland Park Road is part of a broader agency push to shift operations out of expensive urban centers and into regional hubs. The SBA cited cost-efficiency and accessibility as primary drivers for the relocation. The agency noted that its former downtown high-rise saw minimal foot traffic in 2025, while the new Herndon site offers free parking and closer proximity to Northern Virginia’s small business community.

Agero to Acquire Ashburn-based Urgently for $5.50 Per Share

Ashburn, Va. – Agero, a Massachusetts-based provider of digital driver assistance services, has entered into a definitive agreement to acquire Ashburn-based Urgently for $5.50 per share in cash. The tender offer and subsequent merger are expected to close by the end of May 2026. Agero CEO David Ferrick said the move will create a “stronger platform for the entire roadside assistance ecosystem,” serving a combined 150 million vehicles. Matthew Booth, CEO of Urgently, said the deal is a natural fit that will accelerate innovation for the firms’ shared client base of automakers and insurers.

Tech Wire Event: M&A Outlook 2026 - April 15 (Reston, Va.)

Briefly Noted

(Washington, D.C.) Public Policy Holding Company, Inc., the D.C.-based strategic communications and government relations company, has entered into an agreement to acquire WPI Strategy, a U.K.-based public affairs and economics consultancy. Financial terms of the deal were not disclosed. WPI Strategy will be integrated into Pagefield Group, the London-based subsidiary PPHC acquired in 2024. The acquisition marks PPHC’s first major deal since its recent Nasdaq listing.

(McLean, Va.) By Light Professional IT Services, a McLean-based cybersecurity training platform used for national security, has named Diane Hockenberry as its chief marketing officer. Hockenberry formerly served as senior director of strategic communications and marketing at Trident

(Richmond, Va.) Hyper, a Richmond-based digital infrastructure company focused on data centers, has named Chris Fauerbach as vice president of software engineering. Fauerbach formerly worked as principal software engineer at Meta.

(Reston, Va.) iGov Technologies, a Reston-based systems integrator, has named Chuck Reiche as its president. For the last eight years, Reiche has served as senior vice president of corporate business development at iGov.

(McLean, Va.) Xcelerate Solutions, a McLean-based defense and national security company, has named Jeffrey Keen as its senior vice president of federal civilian programs. Keen formerly served as senior vice president of federal civilian enterprise solutions at CACI.

(Reston, Va.) Seekr, a Reston-based AI technology company, has announced a collaboration with Falls Church-based General Dynamics Information Technology (GDIT) to develop AI offerings for the government. The partnership will integrate Seekr’s secure AI offerings with GDIT’s systems integration offering for federal agencies.