Growing Riverside Research creates 60 high-tech jobs with move to Fairfax
Parsons Corporation officially completes the acquisition of BlackSignal Technologies for $200 million. This acquisition integrates BlackSignal into Parsons’ Defense & Intelligence business unit and enhances Parsons’ ability to provide cutting-edge solutions to the Department of Defense and intelligence community. BlackSignal, known for its innovative use of AI and machine learning to disrupt hard-to-detect command and control systems, brings a wealth of expertise in full-spectrum cyber solutions, space-based signal processing, and tactical communications systems. This acquisition aligns with Parsons’ strategy of acquiring high-growth companies and positions the company to capitalize on markets expected to grow more than 10% annually.
Layoffs: Cisco
Following the growing trend of companies embracing artificial intelligence, Cisco has announced the layoffs of 5,500 employees. This latest round of layoffs follows an earlier cut of 4,000 jobs and is part of the company’s strategy to “refocus” and invest more heavily in artificial intelligence. CEO Chuck Robbins repeatedly stressed that AI was the driving force behind these decisions, echoing similar strategies of other tech giants such as Microsoft and Intuit.
However, critics say these layoffs may have more to do with traditional cost-cutting measures than the promise of AI. Whether this shift will benefit the company in the long run remains to be seen, but it is clear that the tech industry is increasingly using AI as a justification for job cuts.
Job opening: Riverside Research
Riverside Research, a national security nonprofit, is moving to Fairfax, VA as part of its expansion and strategic growth efforts. This move will consolidate offices in Arlington and Centreville into a 36,000 square foot facility in Fairfax. The new location is scheduled to open in September 2024, putting Riverside Research closer to key government contracting activities. The move also supports the Open Innovation Center (OIC) and the Commercial Innovation Center (CIC).
The relocation represents a significant investment for Riverside Research of $14.7 million in leases and $7.5 million in capital improvements. However, it will also create 55 high-tech jobs with annual salaries of $9.1 million. Riverside Research is in the process of creating 60 additional high-tech positions to support government agencies.
Approved employer at work: Booz Allen
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Opportunity to watch
LinQuest will be sold to KBR in an all-cash transaction expected to close by the end of 2024. LinQuest, which has grown significantly since 2018 under the ownership of Madison Dearborn Partners (MDP), will now benefit from KBR’s extensive network and expertise in government technology solutions. The acquisition is consistent with KBR’s mission to enhance its cybersecurity, electronic warfare and AI capabilities and further expand its support to the U.S. Department of Defense and intelligence agencies. With the integration of LinQuest into KBR, the company is poised to continue to drive innovation and deliver mission-critical technologies that advance U.S. national security.
