* Talk America Holdings, a Reston company that sells local and long-distance phone service to residential customers, said it bought back $9.8 million of its debt. It bought $5.7 million of its senior subordinated notes, which carry a 12 percent interest rate and expire in 2007. The company will save $3.4 million in cash interest payments from the retirement of that debt. Separately, it also plans to prepay $4.1 million of its convertible notes, which have an 8 percent interest rate and are due in 2011. Talk America expects to record a non-cash gain of about $5.2 million in its fourth quarter. The retirement of the convertible notes will save about $3.6 million in future interest payments. The savings will be reflected on its balance sheet as a reduction in long-term debt.
* TrustWave, an Annapolis information security services firm, agreed to be acquired by Patron Holdings of Chicago. Under the deal's terms, TrustWave shareholders will be paid $20 million and about 8.9 million shares of Patron common stock. TrustWave, a seven-year-old firm with about 35 employees, will become a wholly owned subsidiary of Patron. The Chicago firm, established in April, also announced plans to buy California-based Entelagent Software. No layoffs are expected, and TrustWave chief executive Joseph Patanella will stay with the company as president of the subsidiary. The agreement is subject to approval from Patron shareholders and the receipt of adequate funding, Patron said. Shares of Patron closed at $4.86, up 88 cents.
* The Information Technology Association of America of Arlington elected Roy Haggerty chairman of its board and named W. David Sanders vice chairman. Haggerty was the president and chief executive of Ajilon Consulting and Communications. Sanders is a senior vice president for BearingPoint, where he leads the firm's integration services unit.
* Veridian, an Arlington information technology firm, said it was awarded a task order with San Antonio-based SecureInfo worth $10.8 million from the General Services Administration to support the Federal Computer Incident Response Center. The companies will develop a Web-based information security system.
* Vertis, a Baltimore company that provides technology-based marketing services, said it agreed to sell an additional $100 million in senior notes. The proceeds will be used to pay down debt under its existing credit facilities.
* Capital Genomix, a Gaithersburg biotechnology company, acquired the Automated Diagnostics and Consumables Business of Massachusetts-based Thermo Electron, a maker of laboratory instruments. Terms of the deal were not disclosed.
* Intelsat said its Intelsat Global Service unit and affiliates closed on the $110 million acquisition of Lockheed Martin's World Systems business unit. The companies recently received regulatory and other approvals for the deal, which includes service contracts with the World Systems customers that use Intelsat's satellite capacity, as well as stations in Clarksburg, Md., and Paumalu, Hawaii, which are used for satellite-fleet management. It also includes teleport facilities and related assets of Comsat Digital Teleport. Intelsat, which operates 25 satellites around the world, has been building up its ground-based infrastructure, which helps broadcast information from the satellite to a base station on the ground and then over a fiber-optic network.
Compiled from reports by Washington Post staff writers, washingtonpost.com and Dow Jones News Service