ICF | June 10, 2022
ICF, a worldwide consulting and digital services firm, said today that it has reached a definitive agreement to acquire SemanticBits, a leading provider of mission-critical digital modernization solutions to US government health agencies.
In 2022, SemanticBits is predicted to produce $135 million in yearly revenue. In 2023, almost $115 million of that will be recurring, owing to the conclusion of many small company contracts. As part of ICF, SemanticBits is expected to produce EBITDA margins in the high teens, based on its track record of double-digit sales growth. ICF will use its existing credit facility to cover the $220 million deal. Upon completion, the deal is expected to be accretive to ICF's EPS.
SemanticBits offers a comprehensive set of open-source digital modernization services, including end-to-end agile at scale development, cloud-native solutions, data analytics, and human-centered design.
SemanticBits, which was founded in 2005, has a team of 450 technologists and practitioners with experience working on large federal health IT projects and expertise across 30 technology platforms. They use a fully agile approach that complements ICF's deep federal health domain expertise and digital modernization capabilities. SemanticBits provides help to federal health authorities in the United States, primarily the Centers for Medicare and Medicaid Services (CMS).
This latest acquisition is in keeping with our strategy to complement organic growth with acquisitions that strengthen ICF's position in key growth markets and provide meaningful revenue synergies over time."
John Wasson, ICF chair and chief executive officer
John further added, "SemanticBits' advanced health IT and data science solutions accelerate and improve mission impact and health outcomes. As one of the industry's leading digital service and platform providers using open-source, SemanticBits scales our rapidly growing set of digital modernization capabilities and, together with our deep federal health expertise, will enable ICF to support larger, more complex projects across federal civilian agencies."
The acquisition is scheduled to close in mid-July, subject to regulatory and customary conditions. When ICF reports its second quarter results in early August, it aims to publish updated financial forecast for the full year 2022, which will include the projected contribution from the SemanticBits purchase.
Trend Micro Incorporated | May 30, 2022
With the development of a dedicated U.S. Federal business unit, Trend Micro Incorporated, a worldwide cybersecurity pioneer, confirms its position as the security partner of choice. The company is committed to expanding its mission to U.S. federal agencies and citizens by securing data as it moves to the cloud, particularly for major investment and specialist recruitment. he business unit in Washington, DC, focuses on protecting digital transformation, zero-trust implementation, and cloud migrations that meet the needs of federal agencies.
Customers benefit from a carefully chosen roster of government cybersecurity professionals, which includes hundreds of government institutions around the world, including current U.S. Federal agencies. Former government cyber executives, specialized support teams, and cyber threat researchers are among them.
David Chow, Chief Technology Strategy Officer and former federal government CIO and CISO with decades of experience as a government practitioner and leader.
Ed Cabrera, Chief Cybersecurity Officer and former CISO of the U.S. Secret Service, who has managed cybersecurity strategy and alignments with federal departments.
Chris Radosh, Vice President and General Manager of the Business Unit, is a proud veteran with over 25 years of experience operating technology enterprises and forming cybersecurity collaborations with federal agencies.
Cybercriminals are constantly targeting the heart of U.S. national security. According to a recent study, governments worldwide have been targeted by ransomware more than any other industry. Trend Micro is confident in its goal to secure the connected world, and it is particularly committed to safeguarding the country's core. Trend Micro has the most customers and threat data from all over the world, and governments all over the world have relied on the company for decades.
Trend Micro has a demonstrated commitment to providing customizable information security for the federal government. Federal agencies and organizations need flexible, scalable security solutions that fit into their overall goals to manage risk. Our long-standing relationship with Trend Micro includes a fundamental security software used in Coalfire's Accelerated Cloud Engineering (ACE) offering. We are most grateful for this extraordinary partnership."
Coalfire's Business Development Director, Chris Krueger
Adorama Business Solutions | June 29, 2022
Adorama Business Solutions, the premier technology resource for public, private, and federal institutions, announced its new federal government purchasing portal. The dedicated e-commerce site provides access to thousands of technology and electronics products, with built-in compliance tools to simplify and streamline the purchase experience. Federal government employees can now register for a free account and browse Adorama's range of more than 250,000 products spanning across photography, video, audio, lighting and studio gear, drones, public safety and forensics equipment, virtual and augmented reality, computers, office equipment and more.
The purchasing portal offers a range of features that remove complexities often involved in purchasing for the federal government, including clearly labeled country of origin information on products, and contract pricing automatically applied. From the purchasing portal dashboard, customers can easily manage orders, re-order frequently purchased items, and contact their assigned Account Manager for any technical or order-related questions.
After serving federal government clients via a dedicated sales team for decades, Adorama Business Solutions is excited to launch its new online purchasing portal to offer added flexibility for federal government employees. For many years our customers have been asking for an e-commerce experience that makes life simpler when purchasing from our extensive range of technology products. We have worked that feedback into the creation of this new site, which has all the great products customers are used to seeing from us, plus a host of features that simplify the purchase experience."
Ben Murray, Director of Federal Government Sales
Adorama Business Solutions carries leading brands including Apple, Canon, Nikon, Sony, Freefly, Panasonic, HP, Blackmagic, RED, Brinc Drones, HTC, Profoto, Shure, Roland, Pelican, JBL, Varjo Xerox and more. Federal government customers can shop via purchase order (PO) or by p-card, meaning maximum flexibility.
About Adorama Business Solutions
We listen. We collaborate. We amaze. Adorama Business Solutions helps public, private, and federal institutions communicate more vividly, efficiently and effectively with pioneering technology solutions. You'll work with a dedicated account manager from Day 1, helping you choose the right product solutions from a quarter of a million products for your needs and budget. To get you the gear you need to master your mission, we offer flexible procurement and financing options, plus features that help budget management like an extensive range of used equipment. Through our comprehensive suite of Technical Services, we help you get the most out of your purchases with us.