Despite the progress of COVID-19, businesses must go on.
As many corporate growth professionals adjust to the new normal, they are finding new ways to stay connected with other members of their industries and even with their coworkers and to gather best practices, even during pandemic conditions.
In this edition of the National Capital Dealbook, we’ll dive into some of the developments that have changed the business landscape in the COVID-19 era and more importantly, how business growth, even now, steams on.
Conferences and Networking Events Cancelled
Just as they have been across the country, business meetings and conventions—such as those listed in this Washington Business Journal article—have been getting postponed and cancelled across the DMV region for at least the next few months.
In so doing, a broad spectrum of industries ranging from sports betting to real estate are losing the opportunity to network with colleagues and sales prospects and move the ball forward on transactions.
Many events, such as Sea-Air-Space, a major Navy and industry convention, have had to cancel this year and move to virtual platforms because of the pandemic.
ACG National Capital Launches Webinar Series
In order to alleviate the gap left by these cancellations and postponements, ACG National Capital members and guests will have the opportunity to come together virtually for a new series of webinars, beginning with last week’s session on the CARES Acts and FFCRA with Kara Ariail, a Partner at Holland & Knight, and Elvis Oxley, Managing Director at BDO.
These webinars, which will take place weekly, will not only allow members and guests to take in best practices and thought leadership, but also offers a forum in which growth professionals might consider giving a presentation highlighting their individual expertise and the value that they could deliver for prospective business partners.
Raytheon and United Technologies Complete Merger of Equals
Despite the changes in the economy however, merger and acquisition activity has not come to a standstill, a fact which is punctuated by the merger of equals between Raytheon and United Technologies, which was completed last Friday.
The new company, Raytheon Technologies, benefitting from the already impressive scale of both Raytheon’s and United Technologies’ offerings in the defense industry, combine to create the second-biggest aerospace and defense company in the world, and, according to Forbes, a juggernaut “destined to dominate aerospace and defense,” and profoundly reshaping what was already a rapidly consolidating government contracting market.
FTI Consulting Considering Acquisition of Delta Partners
Moreover, it would appear that there is still potential for acquisitions even amid some signals of a pandemic-induced slowdown.
According to Bloomberg on Tuesday, DC-based FTI Consulting is considering acquiring Delta Partners, which has 200 employees worldwide and specializes in the technology, media, and telecom sector.
The deal highlights the growth potential in that sector, and as we’ve covered previously, the National Capital region has the ingredient to reap the benefits as technology and telecommunications innovations continue to accelerate.