Washington-area business diary for week of July 25

Acquisitions

Shareholders of Fairfax-based technology and consulting company SRA International accepted a previously announced $1.9 million takeover offer from Providence, R.I.-based Providence Equity Partners. Under the all-cash deal, Providence will pay $31.25 per share of SRA stock. On Friday, William L. Ballhaus was named SRA’s chief executive. Ballhaus, former DynCorp International president and chief executive, replaces Stanton Sloane, who is leaving the company.

Melville, N.Y.-based software company Verint Systems announced it will acquire Herndon-based software company Vovici. Under the terms of the deal, Verint will pay $56.5 million in cash and an additional payment of as much as $19.9 million in the next year and a half, based on performance.

Awards

Fairfax-based IT company Accelera Solutions was named Fort Lauderdale, Fla.-based Citrix Systems’ 2010 Federal Partner of the Year.

Campaigns

District-based Pepco has launched a TV campaign aimed at Latinos. District-based Maya Advertising & Communications produced the 30-second TV spots, which will air on Univision, Telemundo and Comcast.

Contracts

Arlington-based hotel management company Interstate Hotels & Resorts has been chosen by Moscow-based NBB-Development to manage six hotels it is developing in Sochi, Russia.

Herndon-based software company SpringCM’s Privia Division has been chosen by Falls Church-based security services company US Investigations Services to provide its bid and proposal management software.

Linthicum-based telecommunications networking company Ciena has been selected by the Romanian National Research and Education Network to provide the optical technology for its 100 gigabit Ethernet network.

Fairfax-based engineering company Horne International has been selected by Point Reyes, Calif.-based turbine manufacturer Wind Harvest International to be a preferred engineering services partner.

Expansions & openings

Alexandria-based information security company Mandiant has opened an office in Reston: 1851 Alexander Bell Dr., Suite 375, Reston, VA 20191. 703-683-3141.

Rockville-based Federal Realty Investment Trust announced five new leases for its Bethesda Row mixed-used development: Outdoors retailer The North Face, Nando’s restaurant, Tandoori Nights restaurant, gourmet food retailer Secolari Oil and Vinegar, and Puree Juice Bar. All are scheduled to open this fall.

Arlington-based Pepco Energy Services has opened an office in the Dallas-Fort Worth area: 1200 Walnut Hill Lane, Suite 1300, Irving, TX 75038.

Emeryville, Calif.-based beverage retailer Jamba Juice has opened a store in Bethesda: Westfield Montgomery Mall, 7101 Democracy Blvd., Bethesda, MD 20817.

Blacksburg-based Virginia Tech has opened the Virginia Tech Research Center – Arlington in Ballston: 900 N. Glebe Rd., Arlington, VA 22203.

Funding

Herndon-based software company Canvas Solutions has raised $1.2 million of a $1.83 million share offering.

Reston-based software developer Razorsight has raised the first $7.3 million of a $10 million equity funding round.

Middleburg-based cell phone case developer Pong Research has raised $5 million from an unnamed investor.

Arlington-based web tool developer uKnow.com raised $1 million in seed funding from the Herndon-based Center for Innovative Technology and several angel investors.

Grants

Rockville-based green energy firm Clean Currents has received $50,000 from the Montgomery County Department of Economic Development to support an expansion of its headquarters.

Joint ventures

Gaithersburg-based real estate developer Buchanan Partners, Bethesda-based real estate investment company The Pinkard Group and Boston-based private equity firm Great Point Investors have formed Buchanan Pinkard Residential, a residential land investment fund.

Moves

Arlington insurer Professional Risk Management Services is to move to 1401 Wilson Blvd., Arlington, VA 22209, from its present location at 1515 Wilson Blvd.

Other

Peter C. Labovitz, president and chief executive of Alexandria-based Connection Newspapers, pled guilty in U.S. District Court to two misdemeanor charges of failure to make timely payments of payroll taxes.

Rockville-based real estate investment firm The Donaldson Group and New York-based investment adviser Angelo, Gordon & Co. have received a $27.66 million loan from Wells Fargo Bank N.A. for acquisition and renovation of the 599-unit Regency Pointe apartment complex in Forestville.

Property sales & acquisitions

Chicago-based Pearlmark Real Estate Partners has sold the Falls Church Corporate Center at 6400 and 6402 Arlington Blvd. in Falls Church to Chevy Chase-based JBG Cos. for $83.7 million.

District-based Urban Pace announced that it has sold all eight units of District-based developer CAS Riegler’s The Flatiron of Bloomington condominium building at 143 Rhode Island Ave. NW.

Bethesda-based First Potomac Realty Trust has bought the Greenbrier Towers I and II in Chesapeake for $6.7 million from Jackson, Miss.-based Parkway Properties.

Compiled by Shawn Selby