Potomac Tech Wire - Sept. 16
CloserStill Media Acquires Chevy Chase-based Billington CyberSecurity
o CloserStill Media Acquires Billington CyberSecurity
o Annapolis-Based RedZone Lands Investment from ParkerGale
o College Park-Based IonQ to Close $1.1 Billion Deal for Oxford Ionics
o McLean-Based Xcelerate Acquires Assets from GDIT
o Nasser Chanda Named New CEO at Accounting Seed
o Briefly Noted: GTT Communications, Precision Medicine Group
CloserStill Media Acquires Chevy Chase-based Billington CyberSecurity
Washington, DC – CloserStill Media, a London-based conference and events firm, announced that it has acquired Billington CyberSecurity, the producer of government-focused cybersecurity conferences and events. Financial terms of the deal were not disclosed. Founder Tom Billington will remain as CEO; he will continue to lead Billington CyberSecurity’s content with the additional role of Chief Content Officer. CloserStill runs 25 events in North America in the areas of technology, infrastructure and healthcare. Billington CyberSecurity last week held its 16th annual summit in Washington, DC, with over 3,000 attendees.
“CloserStill grasps the importance of our mission, shares our entrepreneurial passion for events and believes that world-class cyber education serves the national security interests of our country and allies,” said Billington.
Annapolis-Based RedZone Technologies Lands Investment from ParkerGale
Annapolis, Md. – RedZone Technologies, an Annapolis-based provider of managed security services for clients in highly regulated industries, said on Tuesday it has landed a new growth investment from Chicago-based private equity firm ParkerGale. Financial terms of the deal were not disclosed. As part of the move, Gary Simat, the founder and former CEO of Performive, will take over as CEO. RedZone said it will use the new capital to invest in multiple departments, with a particular focus on partner relationships and sales and marketing.
College Park-Based IonQ to Close $1.1 Billion Deal for Oxford Ionics
College Park, Md. – Three months after initially announcing plans to acquire England-based Oxford Ionics, College Park-based IonQ, the developer of quantum computing and networking systems, said it has met all the conditions to close the $1.1 billion deal. The company said it has secured clearance from the UK Investment Security Unit, and expects to complete the acquisition in the “near term.” IonQ said the move will combine its quantum compute, application and networking stack with Oxford’s ion-trap technology manufactured on standard semiconductor chips. Oxford founders Chris Ballance and Tom Harty are expected to remain with IonQ.
McLean-Based Xcelerate Acquires Background Investigation Assets from GDIT
McLean, Va. – Xcelerate Solutions, a McLean-based provider of digital security and resilience services to defense and national security clients, said it has acquired the background investigation assets of Falls Church-based General Dynamics Information Technology (GDIT). Financial terms of the deal were not disclosed. Xcelerate said the acquisition, which includes contracts, personnel and systems, significantly expands the nationwide reach of its background investigators and positions it as a major prime contractor in this space.
"This acquisition strengthens our ability to deliver trusted, high-impact vetting solutions that support national security as a prime contractor," said Brett Mencin, the CSO of Xcelerate Solutions.
Columbia-Based Accounting Seed Names Nasser Chanda as New CEO
Columbia, Md. – Accounting Seed, the Columbia-based developer of an accounting system built on Salesforce, has named Nasser Chanda as its CEO. He succeeds the retiring Steve Lorenc, who had led the company for four years. Chanda previously served as the CEO of Paymerang, which he led for eight years before its sale to Corpay in 2024. Built directly on Salesforce, Accounting Seed’s software connects data from across the entire business in a single database, enabling faster financial reporting without the need for multiple applications.
Briefly Noted
(Arlington, Va.) Arlington-based GTT Communications, a provider of managed networking and security services to multinational organizations, has named Andrea Genschaw as its new CFO. Genschaw most recently served as the chief accounting officer and controller at Lumen Technologies.
(Bethesda, Md.) Bethesda-based Precision Medicine Group, a provider of drug development, CRO and commercialization services, has named Tracey Leahy as its chief people officer. Leahy previously served as the chief human resources officer at Vonage, a division of Ericsson.