House passes bill to hike the federal minimum wage to $15 per hour

CNBC | July 18, 2019

The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low wage workers a raise. The Democratic held chamber passed the plan in a 231 199 vote. Six Democrats opposed it, while three Republicans supported it. The measure would gradually hike the U.S. pay floor to $15 by 2025, then index further hikes to median wage growth. It would also phase out lower minimum wage paid to tipped workers.

Spotlight

In today’s world of data standards, we are operating in pre-mainstream chaos, similar to that which existed with electricity in Edison and Tesla’s time. The potential for data-as-a-fuel exists as a natural resource in much the same way as magnets and copper did in the industrial revolution. As this next wave of economic opportunity takes root, the same kind of arguments are being made.

Spotlight

In today’s world of data standards, we are operating in pre-mainstream chaos, similar to that which existed with electricity in Edison and Tesla’s time. The potential for data-as-a-fuel exists as a natural resource in much the same way as magnets and copper did in the industrial revolution. As this next wave of economic opportunity takes root, the same kind of arguments are being made.

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EMERGING TECHNOLOGY, GOVERNMENT BUSINESS, CYBERSECURITY

SkyePoint Acquires SNR Government IT Services to Expand its Information Technology Offerings as a Prime Contractor within the Defense Sector

SkyePoint | September 14, 2022

SkyePoint Decisions, Inc. (SkyePoint) is pleased to announce the purchase of SNR Government IT Services LLC (SNR GITS), a subsidiary of Arrowpoint Corporation of Ashburn, VA, effective September 9, 2022. SkyePoint acquired all assets including its DLA JETS, Army RS3, and Army ITES-3S information technology and cybersecurity services contract vehicles. SNR GITS, now as a subsidiary of SkyePoint, offers comprehensive information technology services including technical and management expertise supporting applications, software, hardware, infrastructure, and systems in support of Department of Defense (DOD) agencies. As a Division of SkyePoint, SNR GITS will operate as the Defense sector arm for SkyePoint’s continued growth and investment. “This acquisition reflects SkyePoint’s determined and unrelenting focus on growth and delivering excellence to our federal government customers. Our ability to provide meaningful solutions to Federal agencies, anytime, anywhere now further expands SkyePoint’s reach to the DOD as a Prime contractor. We look forward to working with our technology and industry services partners to deliver SkyePoint’s proven cybersecurity, IT infrastructure, data analytics, and application development solutions.” -Frank Sturek, President, SkyePoint. About SkyePoint Decisions: SkyePoint provides innovative enterprise-wide and targeted solutions for the complex challenges faced by our federal government clients. Our focus is on enabling our client’s ability to deliver their mission – anytime, anywhere, securely as a prime contractor committed to delivery excellence. We combine technical expertise, mission awareness, and an empowered workforce to produce meaningful results. SkyePoint is an established ISO 9001:2015, ISO/IEC 27001:2013, and CMMI for Services Level 3 business with operations across the U.S. About SNR GITS: SNR GITS, a division of Arrowpoint Corporation, offers comprehensive IT services including technical and management expertise that supports applications, software, hardware, infrastructure, and systems in support of the Defense Logistics Agency and the Department of the Army. SNR GITS provides services through its Indefinite Delivery / Indefinite Quantity (IDIQ) contract vehicles.

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EMERGING TECHNOLOGY, CYBERSECURITY

Ermetic Initiates U.S. Federal Government FedRAMP Authorization for Authority to Operate

Ermetic | September 15, 2022

Ermetic, the cloud infrastructure security company, today announced that it has initiated the process to achieve Authority to Operate (ATO) status under the Federal Risk and Authorization Management Program (FedRAMP). FedRAMP is a government-wide program that promotes the adoption of secure cloud services across the federal government by providing a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services. The company also announced the appointment of Ben McGucken as regional vice president of sales for US Federal and Latin America, who will lead the company’s FedRAMP certification. In addition, the Ermetic cloud security platform now supports AWS GovCloud (US) and Azure for US Government – which are designed to address specific regulatory and compliance requirements of US government agencies at the federal, state, and local level that run sensitive workloads in the cloud. The company has engaged stackArmor, Inc, a leading provider of FedRAMP engineering and advisory services, to guide Ermetic through the FedRAMP ATO process. stackArmor and its team of experts have over a decade of experience assisting cloud service providers to ensure their solutions meet compliance standards including FISMA, FedRAMP and NIST. “We are pleased to partner with Ermetic on their FedRAMP journey toward an ATO, stackAmor's ThreatAlert is an integrated suite of security and compliance services deployed within the accreditation boundary. This also includes continuous monitoring designed to help companies like Ermetic reduce the level of effort and costs while accelerating the FedRAMP process.” -Martin Rieger, Chief Solutions Officer for stackArmor. Federal, state and local governments are using the cloud to provide better services for constituents, but need to address security risks, especially those associated with preventing breaches, detecting issues rapidly, and protecting personal information, said Shai Morag, CEO of Ermetic. Ermetic is embarking on the FedRAMP process to provide every level of government with a comprehensive solution for cloud native application protection. Ben McGucken joined Ermetic from data security vendor BitGlass where he was AVP of Sales for South and Latin America. He has also served in senior sales roles with ExtraHop, Palo Alto Networks and Layer 3 Communications. “Ermetic already supports AWS GovCloud and Azure for Government for customers that want to conduct proof of concept evaluations, As we move through the FedRAMP authorization process, government agencies can feel confident that the Ermetic platform is designed to meet the regulatory and compliance requirements they must comply with for cloud workloads.” -Ben McGucken regional vice president of sales for US Federal and Latin America. About Ermetic: Ermetic helps prevent breaches by reducing the attack surface of cloud infrastructure and enforcing least privilege at scale in the most complex environments. The Ermetic SaaS platform provides comprehensive cloud security for AWS, Azure and GCP that spans both cloud infrastructure entitlements management (CIEM) and cloud security posture management (CSPM). The company is led by proven technology entrepreneurs whose previous companies have been acquired by Microsoft, Palo Alto Networks and others. Ermetic has received funding from Accel, Forgepoint, Glilot Capital Partners, Norwest Venture Partners, Qumra and Target Global.

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EMERGING TECHNOLOGY

AE Industrial Partners Completes Investment in York Space Systems

York Space Systems | November 15, 2022

AE Industrial Partners, LP ("AEI"), a leader in space investing and a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets, announced today that it has completed its majority stake investment in York Space Systems ("York" or "the Company"), an independent provider of small satellites, satellite components and turnkey mission operations. Dirk Wallinger, who founded York in 2012, will remain in his current role as CEO & Board Director, and Charles "Chuck" Beames will continue to serve on the Board of Directors. They will also maintain significant ownership positions in York. Terms of the transaction were not disclosed. Headquartered in Denver, CO, York manufactures and architects low Earth orbit ("LEO"), geosynchronous equatorial orbit ("GEO"), and cislunar spacecraft solutions for the proliferated satellite market. Its products are purposefully designed to balance scalability, manufacturability, and efficiency to meet the schedule-driven, high-volume demand for customers' small satellite constellations. York's spacecraft solutions are designed for all mission types, including communications, EO/IR, radiofrequency, hyperspectral, weather, remote proximity ops, and more. "York has transformed the small satellite market with its complete mission solutions and mass manufacturing capabilities. The Company has become a critical partner to the Space Development Agency ("SDA"), Space Force, and other national security customers given its ability to deliver new satellite technology solutions faster and more cost efficiently than any other player in the market, With significant momentum from multiple marquee national security LEO constellation wins, York now has the ability to manufacture satellites at mass production level scale, which is transformative to the commercial space industry. We are excited to collaborate with Dirk, Chuck and the entire York team as the Company enters into this next stage of growth and development." -Kirk Konert, Partner at AEI. York currently serves a variety of leading government and commercial customers. The SDA recently awarded York an additional contract with a total potential value of approximately $200 million. Known as the T1DES program, York will build and operate 12 prototype satellites that will test satellite communications from LEO to augment the Tranche 1 Transport Layer constellation. As previously announced, York is also providing spacecraft solutions as part of both Tranche 0 and Tranche 1 of the SDA's Transport Layer and has a contract with the U.S. Department of Defense's new proliferated LEO constellation. AEI's experience building other space companies in their portfolio coupled with their strategic investment in York empowers us to continue to compete with the world's biggest aerospace companies while still maintaining the highest level of efficiency and affordability for our government and commercial customers, said Mr. Wallinger. With rote production now well underway at both our Denver Tech Center and downtown facilities, York is well-positioned to meet today's surging commercial and DoD market demand. We are optimistic about the opportunities ahead. About York Space Systems: Headquartered in Denver, CO, York Space Systems was founded in 2012 to radically improve spacecraft affordability and reliability, transforming and enabling next generation space mission operations worldwide. An independent provider of small satellites, satellite components and turnkey mission operations, York's products and solutions are used by both government and commercial customers. About AE Industrial Partners: AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative.

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