ICF Acquires SemanticBits
June 8, 2022
ICF (NASDAQ: ICFI) entered into a definitive agreement to acquire SemanticBits for $220 million, a transaction financed through ICF's existing credit facility and expected to close in mid-July 2022. SemanticBits, a Herndon, Virginia–based health IT and digital modernization services provider with about $135 million in 2022 revenue (approximately $115 million recurring in 2023) and a team of ~450, will expand ICF's federal health capabilities and addressable market including CMS.
- Buyers
- ICF
- Targets
- SemanticBits
- Industry
- IT Services
- Location
- Virginia, United States
- Transaction Type
- Buyout
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