A Local Briefing item in the July 25 Washington Business section incorrectly identified LDM Networks, a D.C. company that provides systems integration and managed network services, as LMD Networks. (Published 8/4/2005)
SI International, a Reston provider of information technology to the government, said company founder Ray J. Oleson will step down in September as chief executive and will be replaced by current president and chief operating officer S. Bradford Antle. Oleson will stay on as executive chairman of the board.
Friedman, Billings, Ramsey Group an Arlington investment banking firm, announced that its subsidiary, Friedman, Billings, Ramsey & Co., closed an $800 million offering of common shares for Rosetta Resources, a newly formed company that has bought the domestic oil and gas exploration and production assets of Calpine, an international power company.
MCI, the Ashburn global communications company, announced a five-year, $70 million agreement in which Danka Business Systems of St. Petersburg, Fla., is to outsource the balance of its U.S. information technology operations to MCI. Danka is a provider of document information solutions and enterprise imaging systems and services.
Guilford Pharmaceuticals of Baltimore said it will be bought by drug maker MGI Pharma of Minneapolis for $177.5 million in cash and stock. Guilford makes an implantable medicinal wafer that is used to prevent the return of brain tumors. The deal values Guilford at $3.75 a share -- 56 percent higher than the stock's closing price Wednesday, the day before the deal was announced. Guilford shares surged on the news.
LMD Networks, a provider of systems integration and managed network services, said it has opened an office in Algiers. Nabil Aitoumesiane, company co-founder and a native of the Algerian capital, said LMD is poised to tap into the oil-rich country's emerging markets.