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This article was written by Adam Henry, CEcD, EDP, Senior Business Development Manager for Arlington Economic Development.

In 2022, there were several challenges facing tech companies and the venture capital community — inflation, a decrease in tech exits and IPOs, rising interest rates, and over 150,000 layoffs in the tech sector.

While all of these factors affected deal size and valuations for tech companies, Arlington’s tech ecosystem saw some exciting deal flow among its businesses.

Arlington-headquartered companies were involved in 31 deals totaling more than $1.5 billion from venture capital raises, mergers and acquisitions, strategic corporate investments and other activity. Some of the notable venture capital raises in 2022 included:

In addition to the dynamic venture capital activity, Arlington companies were also involved in some notable mergers and acquisitions and IPOs.

Finally, Arlington Economic Development also saw a number of great investments in our community this past year, including:

  • Technomics, an employee-owned decision analysis company that specializes in cost analysis, data management, and data analytics, announced with Governor Youngkin a $1.7 million expansion in Arlington County, creating 150 new jobs.
  • MarginEdge announced its relocation to Arlington County, taking 23,500 square feet in Ballston.
  • Shift5 announced it will double its space in Arlington to 19,840 square feet in Rosslyn citing a 54% growth in employment since the start of 2022 and revenue doubling year-over-year.
  • Federated Wireless announced a private wireless partnership with JBG Smith in conjunction with Federated Wireless’ corporate headquarters relocation to National Landing.

Despite the challenges of the past year, it’s clear that Arlington-based tech companies continue to launch and grow, creating several opportunities for employment growth in Arlington and Northern Virginia.

In 2023, AED is excited to continue the momentum of creating a welcoming environment for the tech community to raise capital, launch and grow businesses.

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This article was written by Michael Stiefvater, Director of Business Investment for Arlington Economic Development.

At the start of 2022, the state of the office market was in flux as companies and employees adjusted to an uncertain hybrid work environment that continues to challenge the outlook for office real estate.

While strong headwinds remain, bright spots in the local economy have emerged as evidenced by the 24 companies that Arlington Economic Development (AED) has successfully helped expand or retain in 2022. Combined, these company successes totaled 237,000 square feet of new office space and 262,000 square feet of retained office space.

AED saw growth primarily in the aerospace and defense, government contracting and technology sectors. These industries are taking advantage of not only Arlington’s proximity to the nation’s capital, but also the region’s highly skilled workforce and burgeoning tech talent pipeline. With recent investments in higher education institutions including George Mason University and Virginia Tech, Arlington is well-positioned to continue attracting companies in addition to the notable successes from this past year:

  • Apogee Research — Headquarters expansion
  • Boeing — Headquarters relocation
  • Federated Wireless — Headquarters expansion
  • Huntington Ingalls — Relocation
  • MarginEdge — Headquarters expansion
  • Raytheon Technologies — Headquarters relocation
  • Shift5 — Headquarters expansion
  • Targeted Victory — Headquarters expansion
  • Technomics — Headquarters expansion

AED’s commitment and investment in tech talent is perhaps no better demonstrated than with our ongoing Tech Talent Pilot Program in partnership with Exelaration. This program, funded by the American Rescue Plan Act, provides 10 Arlington residents with the opportunity to gain valuable software development experience and a pathway into a technology career.

The program provides companies with additional local talent by offering Arlington residents experiential opportunities in the tech industry. The first cohort of the pilot is nearing completion with participants gaining experience with some of the area’s top companies, while the second cohort will start in late January. We believe investments in innovative programs like this will continue to allow Arlington to lead the way in providing a top-notch workforce for companies looking to expand or locate here

Other notable 2022 accomplishments include our efforts to engage existing Arlington companies during Business Appreciation Month in May. After a long hiatus of in-person interaction caused by the pandemic, AED visited 40 companies over a two-week period to thank them for investing in Arlington and to connect them with valuable resources that may support their growth.

AED also sponsored the Accelerate Investment Conference, an event designed to ignite the Metro region’s innovation, startup, and investor ecosystems and showcases Virginia, Maryland, and D.C. as a prime destination for venture investment and job creation.

As we begin in 2023, we’re seeing real potential for growth in the technology verticals of artificial intelligence and machine learning, cloud computing, cybersecurity, the Internet of Things and quantum computing. AED looks forward to building on the momentum of a successful 2022 as we head into the new year.

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This article was written by Adam Henry, CEcD, EDP, Senior Business Development Manager for Arlington Economic Development.

Arlington has had an incredible year attracting new businesses to the community, with the notable announcements of Boeing and Raytheon Technologies both deciding to locate their global headquarters in Arlington.

Further, past announcements of Nestlé, Lidl, and Amazon HQ2  prove Arlington has become a magnet for large corporations looking to locate their operations amongst a talented workforce, top-notch infrastructure, proximity to Washington, D.C. and convenient access to other major markets in the country.

However, one of the most important functions in economic development is working with existing businesses to ensure they are successful, spawning more investment and hiring — business retention and expansion. Business retention and expansion projects make up a large percentage of companies with which Arlington Economic Development works, and they are equally, if not more, important than the classic business attraction projects we see in the news.

Two great expansion projects this past calendar year include Federated Wireless and Technomics.

Federated Wireless, a leading innovator of private wireless and shared spectrum services, announced in September 2022 its strategic partnership with JBG Smith, National Landing’s largest developer, to innovate and deploy 5G Private Wireless in National Landing. As part of this partnership, Federated Wireless announced it will move its corporate headquarters to National Landing, occupying approximately 36,000 square feet of office space in JBG SMITH’s 2121 Crystal Drive.

In November 2022, state and local officials gathered for the announcement of Technomics’ expansion in National Landing. Technomics is a cost engineering and data analytics company that has been based in Arlington since 2000. Governor Youngkin announced the company will receive $105,000 in VJIP funding for its 10,000 SF expansion, creating 150 net new jobs and investing $1.7 million over the next three years.

Expansion projects like Federated Wireless and Technomics are great examples of our department proactively working with existing companies to ensure their success and growth in our community. These companies become advocates for our community, promoting Arlington and the resources available to businesses looking to locate here.

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This article was written by Sindy Yeh, Senior Business Ambassador for Arlington Economic Development.

Arlington has hundreds of businesses and nonprofits with a dedicated mission of positively impacting society, workers, the community and the environment.

Many make community outreach, sustainability and equity an integral part of their business model. Only a handful, however, have achieved the coveted Certified B Corporation status.

Companies become Certified B Corps only when they receive certification from B Lab, a nonprofit company that measures its social and environmental performance against the standards in its B Impact Assessment (BIA) in five impacted areas: Environment; Community; Customers; Governance and Workers. A company must score 80+ out of 300 to qualify for the full B Corporation Certification.

The Certified B Corporations in Arlington are:

  • Area 2 Farms — certified since December 2021, the organization brings farmers to your neighborhood.
  • Connective Impact — an advisory company that connects nonprofits, private sector leaders and government agencies together to build more partnerships and collaborations.
  • Fors Marsh Group — a market and consumer research and strategy firm that works with leading companies and federal agencies that seek to disrupt markets, understand or influence behavior, and drive action on a national and global scale.
  • Grey Market Labs — a leading cybersecurity research and development and product company with a mission to protect digital life.
  • Public Democracy — a data solutions and market intelligence company on a mission to develop better data and more meaningful AI systems that reflect users’ values, support their priorities and allow them to better share in the value of the data they create.
  • Serendipity Creative — a woman-owned, purpose driven creative design and branding company.

These Arlington companies join a global community that includes 400,000 workers in over 5,000 Certified B Corps across 80 countries and 155 industries with a shared mission to prioritize people and the planet in everything they do and to balance profit with purpose. It is not easy to become a Certified B Corp. Companies must go through an intensive, months-long process to provide the necessary supporting documentation to B Lab, which measures and validates their entire social and environmental performance.

Companies are very proud of the recognition and are willing to go through the rigorous certification process to demonstrate their dedication to a higher standard of business practice. Fors Marsh Group’s CEO, Ben Garthwaite said after the company received its recertification in 2021, “This recertification affirms our standing as a people-first company, committed to impactful work and continuous growth.”

Research has shown that an increasing number of employees, especially millennials, prefer to work for a mission-driven company. In a job market where employers are continuously competing for talent, the Certified B Corporation emblem is often displayed prominently on a company’s website as a recruitment tool. The emblem may provide an edge for the company when it comes to hiring by attracting people that share the same values.

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This article was written by Sindy Yeh, Senior Business Ambassador for Arlington Economic Development.

Eight fast-growing Arlington companies were honored last night in Arlington Economic Development’s inaugural REV Awards ceremony.

REV, which stands for Revenue, Employment and Venture, recognizes Arlington-based companies who have experienced substantial growth in their respective categories. Close to 100 business leaders attended the reception that was held at JBG Smith’s state-of-the art experience center at National Landing. Arlington County Board Vice-Chair Christian Dorsey, as well as partnering organizations like JBG Smith, National Landing Business Improvement District, Arlington Chamber of Commerce and the Virginia Economic Development Partnership were on hand to honor the awardees.

“The REV Awards were created to celebrate the innovation and perseverance in Arlington’s business community,” said Michael Stiefvater, Acting Director of AED’s Business Investment Group. “The eight winning companies exemplify these traits as leaders in their respective industries and we are proud that they call Arlington home.”

Companies honored at last night’s event include:

Revenue

  • Under $5M: Franklin IQ, a management consulting company that helps companies align strategy, empower talent, simplify challenges to create real impact for their clients.
  • $5M-$15M: C3 Integrated Solutions, a full-service IT provider that specializes in securing companies through cloud-based solutions with industry leading partners.
  • $15M-$25M: Black Cape, has a proven track record and expertise in developing mission applications and applying machine learning and artificial Intelligence to hard problems in the government and commercial sectors.
  • $25+M: PGLS, offers translation, interpretation, transcription, language training, and localization in more than 200 languages and dialects. The company delivers on-time, accurate, and personalized language service solutions to numerous companies and government agencies.

Employment

  • Under 100: Shift5, an operational technology cybersecurity company that protects the world’s transportation infrastructure and weapons systems from cyberattacks.
  • Over 100: Targeted Victory, a fast-growing digital first agency built for the mobile age, sitting at the intersection of politics and business. The company has collectively helped their clients raise more than $1.45 billion in online fundraising and managed over $330 million in digital advertising.

Venture Capital

  • Early-stage: EarthOptics, a soil data measurement and mapping company whose technology helps farmers more sustainably manage their soil, increase yields and feed the growing world.
  • Late-stage: Federated Wireless, a leading innovator of private wireless and shared spectrum services.

All REV winners were required to be privately held Arlington-based companies outside the retail sector and were required to provide documentation to demonstrate their growth in each relevant category. We salute these companies for their accomplishments and contributions to Arlington’s economy.

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This article was written by Arlington Economic Development.

On September 6, Arlington’s Talent Pilot Program kicked off by welcoming its initial four program participants.

Over the next 12 to 20 weeks, these individuals will gain valuable experience by working on real-world technology projects under senior-level mentorship. Arlington Economic Development partnered with Arlington-based Exelaration, the #2 tech and engineering internship provider in the U.S., to provide these participants with a paid, full-time experiential-learning opportunity.

Meaningful Progress

October marks a significant milestone for the Program and its participants. Starting this month, the Program’s four participants will begin applying their skillsets to real-world client projects. The participants will supplement these projects by receiving relevant technical instruction, including earning a Certified Scrum Master certification. The Arlington Talent Pilot program strives to increase the local tech talent supply by leveraging Arlington’s highly educated workforce.

Forming Strategic Partnerships

The Arlington Talent Pilot Program partners with local organizations such as Bridges to Independence, the Alexandria-Arlington Regional Workforce Council, the Capital Youth Empowerment Program, and, most recently, Virginia Values Veterans (V3) as sources for program participants.

Companies and organizations can get involved through events, networking, projects, donations, lectures, and more. To learn more, visit Exelaration’s partnership page.

Make Your Application Stand Out!

Changing careers can be a time-consuming and costly effort, especially for those changing careers toward software development. With entry-level software development positions often requiring at least one year of experience, aspiring software developers are left with few options to overcome this experience barrier.

Purposefully, the Arlington Talent Pilot Program does not require a bachelor’s degree or tech industry experience. Individuals can demonstrate their interest in coding or software development by utilizing free online resources such as Udemy, Code Academy and Coursera.

Leveraging these free resources can serve a dual-purpose: (1) they help you form a basic understanding of coding and software development, and, (2) by listing them on your resume, they demonstrate your interest and passion for software development. To learn more about changing careers, check out Exelaration’s blog, Behavioral Best Practices for Launching a Tech Career.

If you need help with your resume or want resume feedback, the Arlington Employment Center offers free webinars, workshops and live Q&A sessions to assist you. Check out their resources page here.

Apply Now

The Program’s second cohort starts on January 24, 2023 and will consist of six program participants. The application deadline for the second cohort is October 23, 2022, and those interested in learning more about the program or applying can do so directly through Exelaration’s applicant portal. The program is limited to Arlington residents and does not require a secondary degree.

About Arlington Economic Development 

Arlington Economic Development (AED), part of Arlington County Government, is dedicated to the preservation and enhancement of an economically competitive and sustainable community, and the creation of exciting, diverse and amenity-rich places. AED provides visionary leadership and superior services to Arlington’s business and arts community, its tourism industry and its real estate development. For more information, visit arlingtoneconomicdevelopment.com.

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This article was written by Sindy Yeh, Senior Business Ambassador for Arlington Economic Development.

For the past seven years, Arlington Economic Development (AED) has recognized the fastest-growing companies in Arlington with the Fast Four Awards. The Fast Four Awards honor Arlington companies that have achieved significant revenue growth over a three-year period.

For 2022, AED is expanding its awards by adding two more award categories to recognize companies with the fastest employee growth and the largest venture capital raises. These three award categories allow AED to recognize and salute Arlington companies for their accomplishments and contributions to the County’s business economy.

Award Categories

  • Fastest Revenue Growth: Recognizing four Arlington companies with the highest rate of revenue growth over a three-year period.
  • Fastest Employee Growth: Recognizing two Arlington companies with the highest rate of employee growth from the previous year.
  • Largest Venture Capital Raise: Recognizing two Arlington companies with the highest amount of venture funding raised in the previous year.

Applications are open now through October 11. The winning companies will be announced during an awards reception in National Landing on November 1.

Interested? Learn more about the application process and submit your company for consideration.

Be a part of Arlington’s very first REV Awards Celebration!

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This article was written by Arlington Economic Development.

Inc. magazine named 25 Arlington companies to its annual list of the nation’s 5,000 fastest-growing companies, the Inc. 5000.

Piedmont Global Language Solutions tops the list of Arlington companies with an impressive 1,353% growth rate. MarginsEdge, HUNGRY, Sweatworks and Hyperion Technologies are the top five Arlington companies.

“We are honored to have made it onto the Inc 5000 list for 2022,” said Bo Davis, CEO of MarginEdge. “This is no doubt thanks to the diligence and dedication of our team and support from clients who believe in us and our product. Our growth over the last year is a testament to this and we are thrilled our team is getting the recognition it deserves for those accomplishments.”

Several Arlington companies have made the Inc. 5000 list more than five times. Fors Marsh Group has been named to the list an impressive nine times. Changeis and 540.co have been recognized six times, and Enterprise Knowledge has earned their spot five times.

“We’re thrilled to be included among the Inc5000,” said Ben Garthwaite, CEO of Fors Marsh Group. “This is our 9th time on the list, reinforcing the notion that operating our business to be a force for good, is also good for business. Community has always been essential to our growth and we are incredibly grateful to be part of the local community in Arlington as well as the international community of Certified B Corps.”

To qualify for the Inc. 5000, companies must show the past three calendar years of sales to prove their revenue. Additionally, they must be U.S.-based, privately held and independent — not subsidiaries or divisions of other companies. Revenue in the initial year must have been at least $100,000, and revenue in the most recent year must have been at least $2 million.

See the complete list of Arlington companies that made the cut and their ranking:

461.  PGLS  (Piedmont Global Language Solutions)
1051. MarginEdge
1218. HUNGRY
1219. SweatWorks
1294. Hyperion Technologies
1321. Grey Market Labs
1486. Kamsa
1544. C3 Integrated Solutions
1651. DonorBureau
1879. Blake Willson Group, LLC
2148. Competitive Innovations, LLC
2227. Axios
2294. ITC Defense Corp.
2296. Fors Marsh Group
2450. PhoenixTeam
3092. iTech AG
3094. Association Analytics
3292. Web Development Group
3364. Ostendio
3422. Nuvitek
3541. Changeis, Inc.
4020. 540.co
4199. Quantum Search Partners
4353. DWBH, LLC
4898. Enterprise Knowledge, LLC

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This article was written by Adam Henry, CEcD, Senior Business Development Manager for Arlington Economic Development.

While Q2 2022 showed some headwinds in venture capital raises and the IPO market, Arlington-based companies continued to raise venture capital at a steady rate to launch and grow their innovative products and services.

In total, Arlington-based companies saw eight venture capital raises totaling $166 million in funding. This represents a 60% increase in deal count and a 29% increase in funding from Q1 2022. Notable raises from this quarter include:

  • Arlington-based Federated Wireless, a provider of shared spectrum and CBRS technology, raised an additional $14 million in Series D funding to help scale the company’s platform and support further investments in its capabilities and partnerships, bringing the total raised in the round to $72 million.
  • Ryse Health, an Arlington-based startup that provides care offerings to diabetes patients, raised $3.4 million in seed funding to hire more employees and expand its service into new markets.
  • OxiWear, an Arlington-based health tech startup, secured $70,000 from Halcyon Angels, an early-stage investing network from Washington, D.C. social impact nonprofit Halcyon. That comes not long after OxiWear collected its second $100,000 investment from the nonprofit’s separate Halcyon Fund.

Since Q2 2020, Arlington-based companies have raised $995.2 million in venture capital across 63 deals. From Q3 2021 to Q2 2022, Arlington-based companies have averaged $143 million in venture capital raises per quarter.

Looking at the North American landscape of venture capital, Q2 2022 saw a decrease in deal count from Q1 2022. According to the National Venture Capital Association’s Pitchbook-NVCA Venture Monitor, the US venture capital ecosystem in Q2 2022 saw a total of 3,374 deals, a 24.5% decrease from the 4,467 deals logged in Q1 2022. Further, the top four markets in the US (Bay Area, New York, Los Angeles and Boston) have captured 68% of deal value through the first two quarters of 2022. Metro D.C. has logged a total of 230 venture capital deals totaling $2.3 billion thus far in 2022.

While global economic trends in inflation, supply chain, tightening labor markets and predictions of a possible recession show signs of affecting the venture capital and big tech industries, Arlington-based companies continue a steady trend in venture capital.

This is a testament to our community and regional strength in innovation and talent to spin out new products and services.

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This article was written by Arlington Economic Development.

The pandemic has forever altered the commercial real estate landscape.

Flexible work environments have become one of the most critical factors in attracting talent, but many people are unsure about the role that office space will play in the future of work. While many companies put real estate decisions on hold, commercial real estate brokers are reporting more interest in office tours, and some companies chose to expand their office footprint despite the uncertainty brought on by the pandemic.

Arlington Economic Development interviewed a local broker and companies that have recently expanded or are looking to expand their office footprint to understand more about what is driving these decisions and how the pandemic has changed how company leadership and employees think about the office.

Business and employee growth is the number one driver for those that have taken new office space during the pandemic or are seeking to expand.

“The National Capital Region has recently received a significant amount of equity funding, and there is a lot of merger and acquisition activity in the area,” said Edward Saa, Co-Founder and Managing Principal at Ethos Tenant Co. “These businesses are securing funding and growing out of their existing footprint. This is especially prevalent among companies currently headquartered in a coworking environment that are ready for their own standalone office space.”

Rios Partners started working with Ethos Tenant Co. about two and a half years ago to identify new office space. Rios put its search process on hold during the early days of the pandemic. When Rios decided they were ready to return to the office, their space needs had more than doubled from the amount of space they had identified before the pandemic due to rapid company growth.

Rios Partners CEO Joshua Riojas said that employees, not company leadership, drove their decision to return to the office. “Employees asked to come back to the office and meet people. Everyone didn’t want to come daily, but our work is generally team-oriented, and video calls cannot fully replicate in-person meetings,” Riojas said.

Lynch Consulting also recently moved from Rosslyn to Crystal City and is looking to hire about 20 more employees. “Crystal City is just a few Metro stops from the Pentagon, and we have a lot of Department of Defense contracts,” said Patrick Lynch, CEO and Managing Partner. “We also have civilian clients in D.C., and we are just a few metro stops from them. Arlington and Virginia are very business-friendly locations for our company.”

Lynch also cited employee interaction as the primary value of office space. “Having face-to-face interactions is important,” he said. Lynch Consulting still has a flexible schedule and no required days in the office, but Lynch reported that his teams still come to the office for staff and client meetings.

Marine Acoustics, a Ballston-based engineering firm, is looking to expand its office space. “We are posturing to grow, so expanded office space will give us a bit more breathing room,” said Steve Psaras, Vice President, Virginia Operations.

Psaras said the new office space would accommodate more client meetings and secure teleconferences for their government clients. Their clients, including the Office of Naval Research, have an increased need for meeting space during the pandemic.

“We sometimes host up to a couple of meetings a week in our spaces. The Office of Naval Research all but stopped hosting live conferences during the pandemic,” Psaras said. “With the ease of access that we allow within our facility as well as safety controls in place, it becomes more convenient for them to host live meetings at our facility rather than in their own.”

Marine Acoustics also has a flexible telework policy. “We’re not dictating where employees complete their work, but people are finding the office to be more productive for certain kinds of work. Most employees will spend at least three days in the office per week because they know that more synergy and face-to-face communication are required to get things done,” Psaras said.

“Companies are still navigating the uncertainty of the past few years,” said Tim Jacobs, Co-Founder and Managing Principal at Ethos Tenant Co. “But as we’ve seen with our clients Rios Partners, Lynch Consulting and Marine Acoustics, businesses are still finding value in gathering in the office, while also maintaining a flexibility for their employees.”

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This article was written by Sindy Yeh, Senior Business Ambassador for Arlington Economic Development.

International business means real opportunity for the economy not just in Arlington, but throughout the region, and Arlington Economic Development (AED) took advantage of that opportunity at the recent SelectUSA 2022 Investment Summit at National Harbor.

The event, organized by the Department of Commerce to attract foreign direct investments into the United States, brings with it business leaders from around the globe and the opportunity to connect with those businesses. More than 3,700 international attendees from over 70 countries attended the four-day conference, with Taiwan having the largest delegation followed by India.

This year, AED joined forces with its regional counterparts to exhibit as part of the Northern Virginia Economic Development Alliance (NOVA EDA). Founded in 2019, NOVA EDA’s goal is to jointly promote Northern Virginia as the best place to do business. The Northern Virginia region is a prime destination for international companies that want to expand and grow in the United States and its strategic location next to Washington, D.C. provides unparalleled access to the region and the world.

Collaborating to exhibit at the SelectUSA Investment Summit gives Northern Virginia jurisdictions a larger and more impactful presence and the opportunity to showcase and promote their abundant assets, like our highly educated workforce, pro-business environment, expansive infrastructure, excellent educational systems and world class quality of life. The Northern Virginia region has what it takes for international companies to successfully expand in the United States.

This is the first in-person SelectUSA conference after a two-year hiatus due to the pandemic, and interest in foreign investment is strong. Arlington and other regional representatives had the chance to speak with companies from around the globe about their interest in doing business in our region, particularly in industries such as cybersecurity, aerospace and defense, energy, health and data.

SelectUSA gives Arlington valuable insight into the international companies interested in expanding to the United States and the chance to demonstrate why Arlington and Northern Virginia are excellent locations in which to do so.

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