Potomac Tech Wire - May 11, 2023
Potomac Tech Wire - May 11, 2023
Accenture Makes Strategic Investment in Arlington-based Stardog
o Accenture Makes Strategic Investment in Arlington-based Stardog
o Enlightenment Capital's Boecore Acquires La Jolla Logic
o DC-based FiscalNote Chosen as “Launch Partner” for Google’s Bard
o New York-based Talos Acquires Tysons-based D3X Systems
o The Washington Post Launches Television Channel
o Reston-Based SAIC Completes Sale of Business to ASRC Federal
o TEDCO Invests $200,000 in Baltimore-Based Novel Microdevices
o Thomas Bell Begins Tenure as CEO of Reston-Based Leidos
o Arlington-Based Millennium Acquires Division of Maxisiq’s Ingressive
o Briefly Noted: IonQ, Treliant
Accenture Makes Strategic Investment in Arlington-based Stardog
Arlington, Va. – Accenture, the audit and consulting giant, said it has made a strategic investment in Arlington-based Stardog, a data management platform that is increasingly used for generative AI. Financial terms of the deal were not disclosed. Stardog’s platform aims to connect data silos at enterprises.
“For most large enterprises, the real value of generative AI will come from customizing and fine-tuning large language models and using their own collected data to address their unique business needs,” said Tom Lounibos, managing director at Accenture Ventures. “Foundation models need vast amounts of curated data to learn and that makes solving the data challenge an urgent priority for every business.” Venture capital investors in Stardog include Boulder Ventures, Core Capital, Tenfore Holdings, Contour Venture Partners and Presidio Ventures.
Enlightenment Capital-Based Boecore Acquires La Jolla Logic
Chevy Chase, Md. – Enlightenment Capital, a Chevy Chase-based private investment firm, said that portfolio company Boecore, a Colorado-based provider of technology to the space and defense clients, has acquired California-based La Jolla Logic. Financial terms of the deal were not disclosed. La Jolla Logic provides cybersecurity, software development and AI tools to the Department of Defense. Boecore, which has an office in DC, said the move strengthens its cyber and software development capabilities. The combined company boasts an employee base of approximately 400.
DC-based FiscalNote Chosen as “Launch Partner” for Google’s Bard
Washington, DC – After recently announcing a collaboration with OpenAI for its ChatGPT offering, FiscalNote, the DC-based public policy software and intelligence company, has been chosen by Google as a “launch partner” for its Bard generative AI search engine. Google had a major roll out of Bard on Tuesday. Under the arrangement, Fiscal Note will provide data sets in the area of policy, regulation and legal matters for use by Bard.
“FiscalNote is honored to have been chosen by Google as a launch partner, as we join this exciting journey of AI innovation and collaborate with a fellow AI pioneer to leverage the potential of generative AI technology,” said Tim Hwang, chairman and CEO of FiscalNote. “As a longtime innovator in AI and as a leader in the legal, policy, and regulatory intelligence domain, we envision a vast potential for the applicability of generative AI.”
New York-based Talos Acquires Tysons-based D3X Systems
Tysons, Va. – Talos, a New York-based company providing technology for trading digital assets, announced that it has acquired Tysons-based D3X Systems, a developer of software used by asset managers to implement advanced investment strategies. Terms of the deal were not disclosed. "Our mission is to empower institutions to access the digital asset markets across their investment lifecycle, and our acquisition of D3X means additional and powerful pre-trade and post-trade tools for our clients to design portfolios and manage risk,” said Anton Katz, co-founder and CEO of Talos.
The Washington Post Launches Television Channel
Washington, DC – The Washington Post said it has partnered with streaming service Amazon Freevee to launch Washington Post Television, a free, ad-supported TV channel. The channel, which will feature breaking news, interviews with newsmakers and in-depth reporting, went live on Saturday with continuous coverage of King Charles III’s coronation. It also will provide additional content on Freevee, including discussions with business leaders, entertainment personalities and authors as part of Washington Post Live, the newsroom's live journalism platform.
Reston-Based SAIC Completes Sale of Business to ASRC Federal
Reston, Va. – Government technology contractor SAIC said it has completed the $350 million sale of its Logistics and Supply Chain Management Business to Reston’s ASRC Federal, which provides technology consulting services to federal civilian, defense and intelligence agencies. The all-cash deal was first announced in March. ASRC said the acquisition builds upon its base operations support capability that provides procurement, logistics and warehousing services at military locations throughout the U.S.
TEDCO Invests $200,000 in Baltimore-Based Novel Microdevices
Baltimore – The Maryland Technology Development Corp. (TEDCO) said it has invested $200,000 in Baltimore-based Novel Microdevices, the developer of a portable device that aims to provide lab-level accuracy results for patient diagnostic testing. The investment was made through the State Small Business Credit Initiative, a program that supports traditionally underrepresented entrepreneurs and small businesses. Novel Microdevices says its Novel Dx device can provide lab-level PCR test results in under 15 minutes, at the same price point as the rapid antigen test.
Thomas Bell Begins Tenure as CEO of Reston-Based Leidos
Reston, Va. – Leidos, the Reston-based government science and technology contractor, said that Thomas Bell officially has begun his tenure as its new CEO. The move comes more than two months after the company named Bell, the former president of defense at Rolls-Royce and chairman and CEO of Rolls-Royce North America, to succeed Roger Krone, who had served in the role since 2014. Robert Shapard, the chairman and CEO of Oncor Electric Delivery, also has assumed the role of independent chairman of the board.
Arlington-Based Millennium Acquires Business Division of Maxisiq’s Ingressive
Arlington , Va. – Millennium, an Arlington-based provider of cyber services for the Department of Defense, said it has acquired the business division of Maxisiq’s Ingressive. Financial terms of the deal were not disclosed. The division offers cybersecurity support to federal customers through security vulnerability assessments, penetration testing and teaming exercises. Millennium said the move further expands its cyber portfolio, adding new customers to its existing business supporting the Department of Defense.
Briefly Noted
(College Park, Md.) IonQ, the College Park quantum computing company, has hired Pat Tang as vice president of R&D. Tang previously worked as engineering vice president at Amazon Lab126.
(Washington, DC) DC-based Treliant, a provider of financial consulting services, has named Mike Schuchardt as its senior managing director of risk management and credit solutions. Schuchardt most recently served as the head of risk and control at MUFG Union Bank in California.