Defense contractor Lockheed Martin of Bethesda agreed to buy Sippican Holdings, a supplier of naval electronics systems, from the private equity firm Carlyle Group and Sippican's management.
Terms of the transaction were not disclosed.
Sippican, of Marion, Mass., develops and makes surface-ship countermeasures, anti-submarine warfare training and submarine communications systems as well as weather and oceanographic instrumentation. Lockheed Martin said the purchase enhances its global capabilities in naval warfare, unmanned underwater vehicles and low-cost manufacturing.
"Sippican's diverse product portfolio, engineering and manufacturing expertise and unique technologies will add a new set of innovative capabilities to the Lockheed Martin team," said Lockheed Martin president and chief executive Bob Stevens.
Lockheed Martin Maritime Systems and Sensors in Manassas will manage the Sippican business.
Chindex International, a small Bethesda-based provider of Western health care products and medical services in China, appointed A. Kenneth Nilsson as chairman, a position held by Roberta Lipson, who will continue as president and chief executive. Nilsson has been an independent director since 1996 and is chairman of the audit committee. He was president of Cooper Laboratories Inc.; managing director of Pfizer-Taito Ltd.; president of Max Factor Japan; and chairman of the Monterey Institute of International Studies.
Mobile Media, a Rockville provider of wireless games and other interactive entertainment, bought mobile service and distribution company Viva Technologies AS. Terms were not disclosed. The purchase follows the acquisition of leading U.S. mobile services and distribution company Telenor Interactive. Viva's operations will be consolidated into Mobile Media, based in Oslo.
First Potomac Realty Trust, a Bethesda real estate investment trust that buys and operates industrial buildings in Washington, Virginia and Maryland, said it recently agreed to buy $100 million of property. It completed the acquisition of two flex properties in Norfolk and an industrial property in Haymarket, Va. It has also agreed to acquire two flexible and industrial properties in suburban Maryland and agreed to sell its Ammendale Road property in Beltsville.
American Capital Strategies, a Bethesda investment company, invested $15 million in Pelican Products Inc., a global leader in the design and manufacture of unbreakable watertight protective cases and technically advanced professional flashlights. American Capital's investment is in the form of a second lien loan and supports Behrman Capital's acquisition of Pelican. A syndicate led by GE Capital, a unit of General Electric, is providing a revolving credit facility, senior term loans and a second lien loan. Behrman Capital and Pelican management are investing in equity.
The partners behind Sam & Harry's and other local restaurants popular with business people are splitting up. Larry Work and Michael Sternberg created the steakhouse's two locations in downtown Washington and at Tysons Corner, the similarly plush Caucus Room steakhouse downtown and the more casual Harry's Tap Room in Arlington. Work is taking the three high-end steakhouses and Sternberg has taken over Harry's Tap Room -- which has big expansion plans -- and restaurant software company GuestMetrics.
Danaher said a federal judge ordered the tripling of damages awarded against a Danaher subsidiary in a patent infringement lawsuit concerning sighting technology for infrared thermometers. According to a Securities and Exchange Commission filing, a federal jury found the subsidiary liable and awarded the plaintiff about $8 million in damages. The filing didn't name the Danaher subsidiary or the plaintiff involved in the lawsuit. Danaher said it would appeal.
Gannett of McLean, which publishes USA Today and 100 other daily newspapers, said its board authorized repurchase of an additional $500 million worth of its common stock. The company said "a substantial portion" of the $1 billion authorized for repurchases under a program announced July 13 had been used.