Boeing agreed to acquire Conquest, an Annapolis Junction-based provider of systems engineering and software to the intelligence community. The sale is expected to close in the first quarter of 2003. Terms were not disclosed.
Conquest will become a new Boeing unit based in Annapolis Junction, Boeing Advanced Information Systems-Maryland Operations, as part of Boeing Space and Intelligence Systems, the aircraft and defense company's intelligence subsidiary.
Boeing said Conquest will "round out" intelligence, surveillance and reconnaissance, or ISR, work. The company is trying to create an ISR system that will enable multiple electronic intelligence systems to work together.
Conquest, founded in 1989, has 20 contracts valued at $250 million over the next three years. The company employs approximately 180 people, most in Maryland.
Information Management Consultants of McLean, a privately held information technology company with clients in government, business, education and science, agreed to buy Kevric, a Silver Spring company, for an undisclosed sum. Kevric provides management, technical, and scientific support services to private and public sector clients.
US Airways Group of Arlington may investigate its $5 billion computer services agreement with Electronic Data Systems as the airline decides whether to abandon the contract, a federal bankruptcy judge ruled. U.S. Bankruptcy Judge Stephen S. Mitchell last month let US Airways examine documents related to the 25-year arrangement with Electronic Data. Last week, Mitchell denied Electronic Data's request for reconsideration of that ruling and ordered the documents be delivered. US Airways has accused Electronic Data of failing to honor a contract provision making the carrier a "most favored customer." The seventh-largest U.S. airline, which filed for Chapter 11 protection in August, has said it suspects Electronic Data is providing better terms to larger rivals, such as Continental Airlines and AMR's American Airlines. An Electronic Data spokeswoman declined to comment.
Ken Glover, a former Prince George's County chief administrative officer, is to help lead the District offices of Dallas-based information technology firm ACS. Glover, who left office last month, is to serve as the company's senior vice president for business development and develop government contracts with state and local jurisdictions. Glover previously served as senior managing director of Mesirow Financial and for various financial services companies on Wall Street.
Domino Sugar workers, who have been on strike since Dec. 8, ratified a three-year contract Saturday that restores two paid holidays, increases wages and secures the independence of the employee pension fund. Workers at the Baltimore company are to return to work today. Members of Local 392 of the United Food and Commercial Workers Union voted 269 to 22 to approve the new contract.
AMI Capital, an underwriter and servicer of multi-family and commercial mortgages, sold a "significant" interest in the firm to Wachovia Corp. Terms of the deal were not disclosed. The deal allows both companies to offer a wider array of real estate financing products and services to their combined customer base and the real estate community as a whole, AMI said. AMI Capital has created more than $4.5 billion in multi-family loans since 1991.
McCormick's British subsidiary, McCormick (UK) Ltd., bought the British condiment maker Uniqsauces for $19.5 million in cash -- a move the spice company said is part of its plan to grow through acquisitions. Robert J. Lawless, McCormick's chairman, president and chief executive, said Thursday that the deal would give the Sparks-based company "a wet manufacturing facility to complement our current manufacturing facilities in Europe," which mostly produce dry spices. With two factories and 350 workers in Littleborough, Lancashire, Uniqsauces makes sauces, salad dressings and condiments for retail and wholesale.
American Capital Strategies of Bethesda sold 4.1 million shares of common stock to the public at $22.75 per share, or $93.3 million. The company, which invests in and lends money to businesses, will use the money to reduce the borrowings under its revolving credit facility.
Compiled from reports by the Associated Press, Bloomberg News, Dow Jones News Service and Washington Post staff writers.