By Kim Hart
Washington Post Staff Writer
Thursday, March 8, 2007
A company started on the whim of two longtime friends has been snapped up by the world's largest security software company.
Christopher Parker and Steve Crutchley, who met in their 20s while working for a London software company, started 4FrontSecurity in 2002. Last week, software giant Symantec Corp. bought the six-person Reston firm to be part of its information security and compliance suite.
The partners initially set out to form a consulting firm, helping companies figure out how to secure their sensitive information. At the time, most large companies were using ad hoc systems to manage information, evaluate potential risks and comply with industry standards -- an often expensive and time-consuming undertaking.
So Parker and Crutchley, who both ended up in Herndon after other pursuits, came up with a software program that conducts interviews with key staff members about a security system and then compiles the responses. That way, Parker said, companies can detect possible gaps in their systems.
4FrontSecurity was largely funded by its founders and a small grant from the Center for Innovative Technology, an organization that invests in Virginia technology start-ups.
Being acquired by Symantec validates the firm's ideas, Parker said.
"As more companies have to deal with privacy issues, and the more they outsource those technologies, the more risk there is," he said. "We realized this was going to become a major impediment to business."SPADAC Hopes to Serve Commercial Clients
Five years ago, Mark Dumas started a tiny company with the technology he developed at a Navy research laboratory. Then, with an additional grant from the research arm of the Department of Homeland Security, his company started to help government agencies respond more effectively to emergencies.
The company, SPADAC, uses geospatial mapping systems and historical data to predict the effect of natural disasters and terrorist attacks. Last week, SPADAC received $6.5 million in its first round of venture capital funding from Pequot Ventures, an arm of Pequot Capital Management based in New York.
Until recently, Dumas has been working almost exclusively with the government. With the new infusion of cash, he hopes to expand his offerings to the commercial world. By analyzing market patterns, the technology can help retail chains plot store locations and help advertising firms figure out how to target a specific demographic.
It can also help companies manage risk and evaluate threats, Dumas said. For instance, if an ATM has been the target of a rash of thefts, SPADAC's system analyzes other bank locations and crime statistics to figure out which other ATMs may be at risk.
SPADAC is involved in a pilot project with White & Partners, a Herndon marketing firm, to help clients better target their audience. The funding will help to develop that project, as well as to hire more staff and to expand its research and development department. Based in McLean, SPADAC has about 80 employees.Lore Internet Systems Adds European Center
Lore Internet Systems, a Herndon-based Internet service provider and Web-hosting company, has opened a new data center in Milan.
The new center is part of Lore's expansion into Europe, which will continue in the next two years with the opening of a data center in Eastern Europe. The company already has centers in Boston, Zurich and Brussels, as well as the Washington area.
Michael Velotta, president of the company, said in a news release that the new center will offer data replication between Milan and Brussels in case of a massive power failure.PRA to Close N.J., Ottawa Offices to Cut Costs
PRA International, a Reston-based provider of services to clinical development organizations, said that it plans to close two facilities in anticipation of lower earnings this year. The company said it is closing its facilities in Eatontown, N.J., and Ottawa to cut expenses without having to cut the size of its staff. The restructuring will cost about $9 million, to be expensed over the next two years, but will allow it save about $4 million a year. It will also allow some project managers to work from home.
"We are taking immediate actions aimed at getting PRA back on the path to accelerated growth," said Terry Bieker, the company's interim chief executive.
The company said it is expecting to see earnings per share of $0.95 to $1.05 in 2007, down from $1.32 each of the past two years. PRA employs about 2,700 people worldwide.QinetiQ Acquires Information Technology Company
QinetiQ North America, a McLean company that secures information for defense and homeland security agencies, announced last week that it will acquire ITS Corp., an information technology company in Oxnard, Calif., for about $90 million.
The purchase of ITS, which works with the military, intelligence and homeland security agencies, will strengthen QinetiQ's information technology business with the federal government, the company said in a news release. The acquisition is expected to be completed by the end of next month.