The past week has played host to some exciting business news across the National Capital region. Below are highlights of the latest regional business news and trends, with a particular focus on mergers and acquisitions – as well as other corporate growth events – in the D.C. area.
This week we look at Carlyle Group’s deal to buy Veritas from Symantec, Leidos’ bid for Lockheed’s government IT business, and quotes from Clarabridge’s new CEO about a potential IPO.
Here is what happened this week:
Carlyle’s Group saves $1B in deal to buy Veritas from Symantec
Symantec Corp. said on Tuesday its sale of Veritas to Washington-based Carlyle Group LP (NASDAQ: CG) will net about $1 billion less cash than previously anticipated. The acquisition of the Mountain View, California, company’s data storage unit by Carlyle was announced as an $8 billion transaction in August.
Read more: http://www.bizjournals.com/washington/morning_call/2016/01/carlyles-groups-1b-savings-in-deal-to-buy-veritas.html
Leidos reportedly leading CACI in bid for Lockheed’s government IT business Reuters reports that Reston-based Leidos Holdings Inc. (NYSE: LDOS) is finalizing the terms of a deal to merge with a spinoff of Lockheed Martin Corp.’s (NYSE: LMT) government IT business, though investment bankers caution against crowning a winning bidder until a deal is inked.
Read more: http://www.bizjournals.com/washington/blog/fedbiz_daily/2016/01/leidos-reportedly-leading-caci-in-bid-for-lockheed.html
Former Softbank Capital exec joins Revolution Growth
A former SoftBank Capital executive who arranged early investments in fitness wearables company FitBit Inc. and financial startup Kabbage Inc. will be joining Revolution Growth. Steve Murray, who also worked on investments in virtual assistant company Interactions Corp. and hyper-local mobile advertising company xAD Inc., is the latest high-level addition at the D.C.-based Revolution Growth, which brought on three new vice presidents in December. The New York-based Softbank Capital is a division of the Japanese telecom Softbank Corp.
Read more: http://www.bizjournals.com/washington/news/2016/01/19/former-softbank-capital-exec-joins-revolution.html
New Clarabridge exec says IPO the way to go
The new CEO of Reston-based software and consulting firm Clarabridge says the company is on a clear path to an initial public offering, perhaps as soon as this year. Yuchun Lee, a Clarabridge board member who last week was elevated to the CEO slot, tells DCInno, “2016 is the year where our margins will grow quite a bit” and he’s relishing his new role at Clarabridge, a job he acquired from Clarabridge founder Sid Banerjee, who last week became the company’s executive chairman.
Read more: http://www.bizjournals.com/washington/morning_call/2016/01/new-clarabridge-exec-says-ipo-the-way-to-go.html
Washington region could see $1 billion in cyber venture funding in 2016
The Washington region could hit the billion-dollar mark in cybersecurity venture funding in 2016. Jonathan Aberman, managing director of Amplifier Ventures, a seed and early-stage venture capital fund based in McLean, said big fourth-quarter investments in cybersecurity companies helped boost overall venture funding in 2015 – and will continue to grow in 2016. He said the Washington region, a growing center for cybersecurity business and research overall, will see more big deals in 2016.
Read more: http://www.bizjournals.com/washington/blog/techflash/2016/01/washington-region-could-see-1-billion-in-cyber.html
Carl Grant discusses Corporate Growth in the Nation’s Capital in 2015 and the Mid-Atlantic Growth Conference
On Thursday, March 31, 2016, ACG National Capital will sponsor its 22nd annual Mid-Atlantic Growth Conference…in anticipation of this exciting annual event, Corporate Growth, Capital Style will be publishing a series of interviews with the speakers, attendees and organizers of conference. For our first interview, we spoke with Carl Grant…who discussed corporate growth in the National Capital region in 2015, hot industries leading the way in the area, and what business leaders can expect at the 2016 ACG Mid-Atlantic Growth Conference.
Read more: http://acgcapitalblog.com/uncategorized/carl-grant-discusses-corporate-growth-in-the-nations-capital-in-2015-and-the-mid-atlantic-growth-conference/