Washington area business diary for the week of June 11

June 10, 2012

Short takes on the week's announcements and deals.

Acquisitions

District-based Web designed firm Nclud said it has been acquired by San Francisco-based social networking company Twitter. Terms were not disclosed.

Falls Church-based defense and technology contractor Northrop Grumman said it will acquire Australia-based cybersecurity company M5 Network Security. Terms were not disclosed.

Bethesda-based mortgage lender Walker & Dunlop said it will acquire Needham, Mass.-based rival CW Capital LLC for $80 million in cash and $140 million in stock.

Contracts

Herndon-based ITT Exelis said it has won a contract from the Metropolitan Washington Airports Authority for the use of its Symphony OpsVue Web-based flight-tracking and situational awareness system.

Towson-based software company K12 Enterprise said that Lawrence Public Schools in Long Island, N.Y., will use its financial and human resource management software.

Expansions

Tysons Corner-based Web company NavigationArts announced it has opened offices in New York, Philadelphia and Boston. The company also said it has redesigned its Web site, www.navigationarts.com.

Bethesda-based real estate finance company Walker & Dunlop said it is opening an office in Milwaukee.

Addison, Tex.-based BL Restaurant Operations said it is opening a Bar Louie restaurant this week at 150 Gibbs St. in Rockville.

Fair Oaks Mall said Montreal-based shoe retailer Aldo and Houston-based women’s boutique Francesca’s Collections have opened stores in the Fairfax shopping center. Australia-based clothing retailer Cotton On and Nevada-based sunglasses retailer Bauer’s Fashion Eyewear are expected to open stores there in July.

McLean-based business acceleration consulting firm Celerity said it has opened an office in Denver.

Funding

Vienna-based app developer DubMeNow has raised $3.21 million of a $4.71 million offering, according to a filing with the Securities and Exchange Commission.

Bethsesda-based tech company Geostellar said it has raised an unspecified amount of money from the state of Maryland, Herndon-based GeoEye, Vienna-based Flash Forward Ventures and Princeton, N.J.-based NRG Energy.

Dulles-based managed hosting and cloud services provider Carpathia Hosting said it has received a $71 million credit facility.

Joint ventures

McLean-based Sunrise Senior Living said it will form a joint venture with CHT Partners, a subsidiary of Orlando-based CNL Healthcare Trust. Sunrise said it will contribute seven senior living communities to the joint venture while CHT will contribute $57 million. Sunrise is to own 45 percent of the joint venture with CHT owning the rest.

Moves

Detroit-based law firm Clark Hill said it has moved its District office to 601 Pennsylvania Ave. NW, North Building Suite 1000, Washington, DC 20004.

Name changes

Bowie-based health care technology company MedAssurant has changed its name to Inovalon and has launched a new Web site, www.inovalon.com.

New products & services

Sterling-based Repair.com, a Web site that lets customers make appointments with local service providers for TV and home appliance repairs, said it began operations in 50 U.S. cities.

Reston-based tech company Uppidy said it now has a business version of its text message storage platform.

Pharmaceuticals

Gaithersburg-based GenVec said the Agriculture Department has issued a conditional license for its foot-and-mouth disease vaccine for use in cattle.

— Compiled by Shawn Selby

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