Washington area business diary for week of May 19

May 18, 2014

Short takes on the week's announcements and deals.

Acquisitions

Silver Spring-based media company Discovery Communications said it has formed a joint venture with London-based television and telecommunications company Liberty Global to acquire London-based television programming producer and distributor All3Media. Terms were not disclosed.

McLean-based media company Gannett said it will buy six television stations in Texas from Addison, Tex.-based London Broadcasting for $215 million in cash.

Awards

The District-based National Venture Capital Association has given its 2014 Lifetime Achievement Award to former NVCA president Mark Heesen during its annual meeting in San Francisco.

Rockville-based Tech Council of Maryland named the winners of its 26th Annual Industry Awards. They include executive of the year Ahmed Ali, president of TISTA Science and Technology Corp.; chief financial officer of the year Robert Latchford, CFO of Optoro; chief technology officer of the year Mark Pietrasanta, CTO of Aquilent; life science firm Amplimmune; technology firm 2U; government contractor Social Solutions Global; and emerging firm KoolSpan.

Expansions

Scottsdale, Ariz.-based restaurant chain Kona Grill is to open its first Washington area restaurant, at Fair Oaks Mall in Fairfax in the summer of 2015.

Funding

Alexandria-based Marathon Patent Group, an acquirer and licensor of technology patents, said it has raised $6.5 million through the sale of preferred stock. The company also said it has acquired a pair of patent portfolios from Dallas-based IPNav for $5 million in cash and 391,000 shares of stock, as well as up to $6 million in deferred payments and potential earn-outs.

Leesburg-based medical device company K2M Group Holdings said it has raised $120 million in its initial public offering of 8.83 million shares of common stock at $15 per share.

McLean-based telecommunications and Internet service provider GTT Communications said it is offering 4.45 million shares of common stock – 450,000 of which are being offered by stockholders. The company said it plans to use the proceeds from its 4 million shares for general corporate purposes.

Arlington-based energy management technology developer GridPoint said it has raised $16.2 million through the sale of notes.

District-based DuPont Fabros Technology, which owns and operates data centers, said it has increased its unsecured revolving credit facility from $400 million to $560 million, and has amended it to potentially borrow up to $800 million.

Moves

The Fairfax County Chamber of Commerce has moved from 8230 Old Courthouse Rd. in Vienna to 7900 Westpark Dr., Suite A550, McLean, VA 22102.

— Compiled by Shawn Selby

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