Gazette.Net: Earnings & deals

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Gazette.Net: Earnings & deals

Originally Published in Gazette.Net | August 9, 2013

Rockville information technology company Optimal Networks has acquired Annandale, Va.-based Database & LAN Solutions.

Jeff Greenspan, former CEO of DBLS, initially will join Optimal Networks as a senior consultant, and nine of DBLS’s 10 engineers will remain with the new company. The acquisition will expand Optimal’s staff to 32 and client base by approximately 50 organizations.

Consero Group, a Bethesda business that organizes high-level events for senior executives, has expanded its European headquarters in Dublin, Ireland. The company has tripled its space there.

Rockville-based Emergent BioSolutions has closed on its acquisition of Bracco Diagnostics’ health care protective products division. This acquisition broadens Emergent’s biodefense franchise into the chemical countermeasure market.

Boston-based Sovereign Bank, which has branches in Bethesda, Gaithersburg and Olney, will change its name to Santander Bank, N.A., on Oct. 17. The Spanish banking group bought Sovereign about four years ago.

Marriott International reported that second-quarter net income increased 25 percent, to $179 million, from a year earlier.

In North America, comparable systemwide revenue per available room rose 5.2 percent in the second quarter, while the average daily rate increased 3.9 percent. Total revenue rose to $3.3 billion, from $2.8 billion a year ago.

Rockville-based Choice Hotels saw revenue rise by 6 percent in the second quarter, to $183.6 million from a year earlier. Net income dropped by 11 percent, to $28.2 million.

Silver Spring-based ReelGenie, which creates high-quality videos from photos and digital media, secured a round of seed funding totaling $850,000. Investors included CNF Investments, the Maryland Venture Fund and faculty members from the Wharton School of the University of Pennsylvania.

The state’s InvestMaryland program invested $150,000 in ReelGenie, which is in the Silver Spring Innovation Center and plans to add to its four-employee staff.

Saul Centers, a Bethesda real estate investment trust, saw second-quarter revenue increase to $48.8 million, from $47.4 million a year earlier. Operating income decreased to $7.7 million, from $9.6 million, partly due to $2 million of depreciation expense and $1.2 million of predevelopment expenses related to the redevelopment of Van Ness Square in Washington, D.C.