July 24 // Columbia's Sourcefire acquired for $2.7B by Cisco

A marquee name in the technology industry said Tuesday that it is buying Columbia-based Sourcefire — a homegrown player in the hot cybersecurity field — for $2.7 billion cash. Cisco Systems wants to bolster its security offerings with Sourcefire products, which protect the computers and networks of major businesses and government agencies. The Silicon Valley firm — eager to tap new talent and increase its footprint in the East Coast's major cyber hub — said Sourcefire's headquarters will remain in Columbia and it does not plan any job cuts. (Balt. Sun)

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Legg Mason names new chairman

Legg Mason Inc. announced the appointment of Dennis M. Kass, an independent director and former CEO, as its new chairman during the annual shareholders meeting Tuesday. Kass, 62, joined the board of the Baltimore-based money manager in April and replaces W. Allen Reed, who had held the position since September after CEO and Chairman Mark Fetting announced his resignation. (Balt. Sun)

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Companies picked for Advance Maryland program 

The Maryland Department of Business and Economic Development and the Economic Alliance of Greater Baltimore announced that five Maryland companies have been selected out of 21 applicants to participate in Advance Maryland, a business pilot program designed to support second-stage companies that are growth-oriented and have moved beyond the startup phase. (Daily Record)

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Gaithersburg council members grill Pepco on reliability, higher rates

Gaithersburg’s mayor and council took advantage of a meeting with Pepco representatives Monday evening to ask tough questions about reliability and rate increases. Two representatives for the utility, regional vice president for Maryland Jerry Pasternak and program manager Susan Marinelli, educated the mayor and council on two new energy-saving programs for the public. The programs provide initiatives for customers to reduce their power consumption, especially on days of high use, in order to reduce strain on the grid. But, the council was more interested in Pepco’s past performance. (Gazette)

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Adventist HealthCare prepping cheaper bid to relocate Washington Adventist Hospital

Adventist HealthCare will soon try again to obtain Maryland regulators' permission to build a new hospital in White Oak, this time planning a "significantly less" costly project with a more traditional funding scheme, two executives said Tuesday. Adventist, dealt twin blows when regulators rejected two separate plans to build new Montgomery County hospitals in 2011 and 2012, will take the first steps Aug. 2 toward trying again to relocate Washington Adventist Hospital from Takoma Park farther north. They continue to call the relocation crucial to its long-term survival. (Gazette)

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Legg Mason shareholders 'happy with the way things are going'

In his first annual shareholder meeting as Legg Mason CEO, Joseph A. Sullivan on Tuesday laid out his road map for the future of the $645 billion money manager and in the process got some positive feedback from one of the company’s biggest investors. (Balt. Bus. Journal)

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United Way of Central Maryland names new board chair

United Way of Central Maryland has named Johns Hopkins Medicine executive Patricia M.C. Brown as the new chair of its board of directors. Brown, senior vice president of Johns Hopkins Medicine and president of Johns Hopkins HealthCare LLC, has been on the nonprofit’s board since 2006. (Balt. Bus. Journal)

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Pie Five Pizza Co. plans to enter Baltimore market with 12 locations

Pie Five Pizza Co., a developing fast-casual pizza chain, plans to open as many as 12 locations in the Baltimore region. Franchisee Jeff Mengel, the managing partner for four Five Guys locations in the Baltimore area, will oversee development of the stores. (Balt. Bus. Journal)

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