Business Notes: M&T Bank Moves Regional Headquarters Across I-270
Plus: Gaithersburg manufacturer acquires German company; Bethesda tech company honored as one of fastest growing in North America
M&T Bank moved its headquarters within Rockville last month.
The office opened at 77 Upper Rock Circle, Suite 800, on Nov. 14. It moved across Interstate 270, from 1 Research Court.
Cecilia Hodges, M&T’s regional president for the Greater Washington and Virginia area, said in an interview that the lease was up on Research Court, where the company was using three floors.
In the new office, the staff is consolidated on one floor, Hodges said.
M&T has 85 full-time employees working at the regional office, with space for more, Hodges said.
M&T Bank, based in Buffalo, N.Y., has regional offices throughout the Northeast.
The Greater Washington region encompasses 55 branches across 15 counties, according to M&T’s website. In Montgomery County, there are branches in Bethesda, Friendship Heights, Gaithersburg, Damascus, Germantown, Olney, Potomac, Rockville, Silver Spring and Wheaton.
Gaithersburg manufacturer acquires German company
Xometry, a Gaithersburg custom-parts manufacturer, is acquiring Shift, a similar on-demand manufacturer in Munich, Germany.
Xometry, which has an office in Bethesda, announced the acquisition on Tuesday.
A company press release says the acquisition “will accelerate its international expansion into 12 new countries, leveraging a worldwide network of over 4,000 manufacturers.”
“Global expansion is a key step for us,” Xometry CEO Randy Altschuler said in the press release. “Many of our customers, like BMW and Bosch, have a global presence and we can serve more of their needs with a global network. Our AI-driven algorithms and intelligent sourcing platform give us a competitive advantage as we expand across new geographies and manufacturing technologies.”
Xometry, which was founded in 2013, has grown from 100 to more than 300 employees over the past two years, the press release says.
Shift will operate as Xometry Europe and remain in Munich.
Bethesda tech company honored as one of fastest growing in North America
The Bethesda software company iLearningEngines Inc. is in the top 10 of a new list of North America’s fastest growing tech businesses.
The Deloitte Technology Fast 500 list for 2019 has iLearningEngines at number 5, with three-year revenue growth of 15,846%.
Other Montgomery County companies on the list are:
- 43rd: Regenxbio Inc. of Rockville, in the biotech/pharmaceutical field, with 2,901% growth
- 208th: Orgenesis Inc. of Germantown, in the biotech/pharmaceutical field, with 527% growth
- 242nd: CloudBolt Software Inc. of Rockville, in the software field, with 451% growth
- 468th: Supernus Pharmaceuticals Inc. of Rockville, in the biotech/pharmaceutical field, with 185% growth
The list includes companies with a base-year operative revenue of at least $50,000 and current year operating revenue of at least $5 million. They must have been in business for at least four years.
Shooting arcade opens in Westfield Montgomery mall
Aim Point, an arcade where visitors can shoot targets using airsoft guns, recently opened in Bethesda’s Westfield Montgomery mall. Airsoft guns shoot plastic pellets. Everyone who uses them must first go through training, the MoCo Show reports.
For $10, visitors can shoot 75 rounds for the chance to win a prize.
The shooting arcade is on the second floor of the mall near the dining terrace.