Washington area business diary for the week of Dec. 10

December 9, 2012

Short takes on the week's announcements and deals.

Acquisitions

Rockville-based accounting firm E. Cohen and Co. said it will acquire Bethesda-based Michael A. Kane Chartered Accountants, effective Jan. 1. Terms of the deal, which is being described as a merger, were not disclosed.

Herndon-based satellite imagery company GeoEye said that its shareholders have approved the previously announced $900 million proposal to be acquired by Longmont, Colo.-based rival DigitalGlobe. Under the terms of the deal, GeoEye shareholders will have the option of accepting 1.137 shares of DigitalGlobe common stock and $4.10 a share in cash; a 100 percent cash payment at $20.27 per GeoEye share; or a 100 percent stock payment, which would equate to 1.425 shares of DigitalGlobe stock for each GeoEye share. The deal is expected to close in the first quarter of 2013.

McLean-based management and technology contractor Booz Allen Hamilton said it has completed its previously announced $154 million acquisition of Annapolis-based Arinc’s defense systems engineering and support division.

Bethesda-based hotel real estate investment trust Host Hotels & Resorts said its European joint venture has acquired five hotels in a $575 million deal. The hotels are the 757-room Paris Marriott Rive Gauche Hotel & Conference Center, the 402-room Renaissance Amsterdam Hotel, the 327-room Renaissance Paris La Defense Hotel, the 97-room Renaissance Paris Vendome Hotel and the 150-room Courtyard Paris La Defense West-Colombes.

Fairfax-based tech company SRA International said it will acquire the national security solutions business of McLean-based business consulting firm MorganFranklin. Terms were not disclosed.

Vienna-based data center developer and operator ByteGrid said it has acquired a 77,000-square-foot data center in Alpharetta, Ga. Terms were not disclosed.

Call for entries

The Herndon-based Center for Innovative Technology is now accepting proposals for its Commonwealth Research Commercialization Fund. Deadline for letters of intent is Dec. 17 and proposals are due Jan. 18. Visit www.cit.org/service-lines/crcf/fy2013-solicitation/ for more information.

Expansions

The Washington Redskins opened a Redskins Team Store at Fair Oaks Mall at 11750 Fair Oaks Mall, Fairfax, VA 22033.

Arlington-based IT contractor CACI International said it will launch two business units on Jan. 1 focusing on federal civilian and business systems markets.

Funding

Vienna-based medical research company Cel-Sci said it will sell 35 million shares of common stock in a direct offering at 30 cents a share to raise $10.5 million.

Reston-based digital agency Siteworx said it has received an undisclosed investment from Los Angeles-based private equity firm RLH Equity Partners.

Name changes

Reston-based mobile app software company Spring Wireless said it has changed its named to Spring Mobile Solutions.

McLean-based USA Today Sports Media Group said it has renamed US Presswire, its sports images service, to USA Today Sports Images.

Other

Arlington-based investment bank FBR & Co. said it is extending its offer to buy back up to 4 million shares of common stock until Dec. 18. The company is also raising the per-share price range to $3.25 to $3.50.

Pharmaceuticals

Rockville-based Synthetic Biologics said it has signed a deal to acquire Bethesda-based Prev AbR’s Clostridium difficile infection program. The firm plans to use the compounds to develop and market SYN-004, an experimental oral beta-lactamase enzyme treatment.

— Compiled by Shawn Selby

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