Icf Intl Inc Stock Price, News & Analysis

ICF (NASDAQ:ICFI) has successfully acquired Creative Systems and Consulting, enhancing its capabilities in IT modernization and digital transformation for US federal agencies. This acquisition adds a skilled team of 270 experts proficient in Salesforce, Microsoft, and ServiceNow, complementing ICF's existing services. ICF is recognized as a leading ServiceNow implementor and was named Federal Partner of the Year in 2019. The firm aims to leverage this acquisition to strengthen its digital services portfolio, building on its previous successful M&A transactions.

On January 3, 2022, ICF (NASDAQ: ICFI) announced the completion of its acquisition of Creative Systems and Consulting, a provider of IT modernization solutions for U.S. federal agencies. This acquisition enhances ICF's digital transformation service offerings and leverages Creative's expertise in cloud solutions, data analytics, and customer experience, particularly within Salesforce and ServiceNow platforms. The integration aims to strengthen ICF's position in the federal market, benefiting from Creative's skilled 270-person team.

ICF has announced a definitive agreement to acquire Creative Systems and Consulting, a prominent provider of IT modernization solutions for U.S. federal agencies, expected to generate approximately $60 million in revenue in 2021. The acquisition is anticipated to slightly enhance ICF's GAAP EPS in 2022 and deliver mid-teens revenue growth in the following year. Creative’s strong expertise in cloud services complements ICF’s offerings and is projected to yield significant revenue synergies. The deal is subject to customary closing conditions and is slated for completion by year-end 2021.

ICF (NASDAQ:ICFI) has been recognized as the Appian 2021 Trusted Delivery Partner in the Public Sector for its consistent implementation of Appian's Low-Code Platform. This acknowledgment highlights ICF's successful partnerships with federal agencies including the U.S. Departments of Transportation, Labor, and Health and Human Services. Additionally, ICF received the Appian 2021 Public Sector Solutions Cup for delivering an effective financial examiner platform, positioning the company as a leader in digital transformation within the public sector.

ICF (NASDAQ: ICFI) has appointed Michelle A. Williams, dean of the Harvard T.H. Chan School of Public Health, to its board of directors effective December 1, 2021. Williams brings extensive experience as an epidemiologist and academic leader, having published over 500 peer-reviewed papers. ICF CEO John Wasson expressed enthusiasm for her joining, highlighting her expertise in public health as a strong asset for the company. Williams aims to support ICF in tackling complex challenges and enhancing community resilience. This strategic addition strengthens ICF's leadership in addressing pressing global issues.

ICF reported third-quarter 2021 revenue of $394 million, a 9% rise from last year, with service revenue at $276 million, up 4%. Diluted EPS increased to $1.07, a 14% increase. The company secured $604 million in new contracts, resulting in a trailing twelve-month contract total of $2.1 billion. The backlog stood at $3.1 billion, with 55% funded. ICF announced the acquisition of ESAC to enhance its public health services. Despite a decline in commercial revenue, strong growth in government revenue (up 16.1%) supports future growth, with revised EPS guidance for 2021 reflecting significant expected growth.

ICF (NASDAQ:ICFI) has acquired ESAC, a specialized provider of advanced health analytics and bioinformatics, enhancing its capabilities in federal health agencies. This acquisition aims to address the increasing complexity of health data and interoperability requirements in the U.S. federal health sector. With a strong cultural alignment, ICF plans to leverage ESAC's expertise in health IT and data standards to capture growth opportunities. The 40-person ESAC team has extensive experience since 2006, supporting research and healthcare quality improvements.

The U.S. Department of Health and Human Services awarded ICF $24 million in technical assistance contracts to enhance programs under the Administration for Children and Families. The agreements include a $15 million contract focused on human trafficking prevention, a $5 million extension for early childhood education support, and a $4 million contract for low-income water assistance programs. ICF has over 30 years of experience aiding ACF programs, aiming to improve the social well-being of children and families nationwide.