The transaction is expected to close within the first quarter of this year and is part of ICF“™s move to expand its information technology modernization support services in the U.S. federal market.
Financial services company Baird advised ITG on the deal.
“ITG has really emerged as a leader in platform-enabled, digital transformation. The combination with ICF makes a lot of strategic sense. There is tremendous commonality in culture and vision,” John Song, a managing director of Baird, told ExecutiveBiz.
Founded in 2010, ITG offers cloud-based platform services, business process engineering, enterprise architecture, Agile systems engineering and other digital services to federal agencies. The Arlington, Va.-based digital consulting firm earned $90M in 2019 revenues and closed the year with a revenue run-rate in excess of $100M.