GOVERNMENT BUSINESS
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.
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GOVERNMENT BUSINESS
Nearmap | July 01, 2022
Federal government agencies in the U.S. announced streamlining access to powerful geospatial intelligence and location data services from an approved contractor on the U.S. General Services Administration (GSA) Schedule, Nearmap, which is an Australian location data and aerial imagery technology company that provides high-resolution and frequently-updated aerial images.
Since Nearmap on the GSA schedule offers streamlined access to scalable and accurate aerial mapping tools, location data, and imagery of over 80% of the U.S. population, the inclusion of GSA is of great importance to federal government agencies. It enables government entities to save money and time by avoiding using pre-established and standardized pricing, terms, and conditions to acquire high-quality goods and services and by avoiding long contractual terms.
Federal civil asset management, homeland security, environmental studies, infrastructure management, military asset management, and FEMA resilience response and recovery missions are the industries that benefit from Nearmap's robust location data intelligence and aerial imaging. Nearmap has gained huge popularity across government sectors, getting its hands on numerous government contracts in the U.S. including the United States Army Corps of Engineers and the Army National Guard. The reach and access of Nearmap on the GSA will only extend with its inclusion across these sectors.
Government agencies are hungry for the level of detail and sophistication that Nearmap location intelligence and data can add to their workflows. The addition of Nearmap to the GSA Schedule will streamline access for these agencies that rely on the most up-to-date location data to support the many critical services that government agencies provide—allowing them to make better informed decisions for their constituents… faster."
Tony Agresta,Executive Vice President and General Manager of North America at Nearmap
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CYBERSECURITY
Carahsoft | August 05, 2022
CornerstoneAI, Provider of Ethical and Responsible AI Services and Solutions, and Carahsoft Technology Corp., The Trusted Government IT Solutions Provider®, today announced a partnership. Under this agreement, Carahsoft will serve as CornerstoneAI’s Master Government Aggregator®, making their artificial intelligence (AI) and machine learning (ML) solutions available to the Public Sector through Carahsoft’s reseller partners and NASA Solutions for Enterprise-Wide Procurement (SEWP) V, OMNIA Partners and National Cooperative Purchasing Alliance (NCPA) contracts.
CornerstoneAI’s mission is to ensure the development and ongoing maintenance of responsible AI usage by agencies within the Federal and State Government space. AI plays a critical role in nearly every aspect of business and accelerates the creation of high-impact digital and automated solutions. CornerstoneAI provides AI audit, remediation and development services, including cybersecurity to maximize these benefits while maintaining necessary boundaries and implementing precautions against misuse.
“Partnering with a company as reputable as Carahsoft, provides a clear path to further our mission to eliminate data bias in AI/ML and bring responsible AI techniques to the top of AI development agendas, I am confident that our partnership with Carahsoft and its resellers will provide Government agencies a competitive edge and advantage in the continuous modernization effort.”
-Eric Barberio, Executive Advisor and COO of CornerstoneAI.
Preserving ethical operations is crucial to any technology field and CornerstoneAI makes this task simple. Through CornerstoneAI’s efficient auditing and detailed reports, agencies can improve their data ecosystems and build trust by identifying challenge areas and implementing effective solutions to eliminate machine learning bias and AI discrimination.
“With the addition of CornerstoneAI to Carahsoft’s AI solutions portfolio, Government agencies have access to solutions that can ensure their AI systems function at maximum quality and accuracy, We look forward to working with CornerstoneAI and our resellers to help agencies take ownership of their AI diversity and create an equal opportunity, inclusive society.”
-Michael Adams, Director of AI Solutions at Carahsoft.
About Carahsoft:
Carahsoft Technology Corp. is The Trusted Government IT Solutions Provider®, supporting Public Sector organizations across Federal, State and Local Government agencies and Education and Healthcare markets. As the Master Government Aggregator® for our vendor partners, we deliver solutions for Artificial Intelligence, Cybersecurity, MultiCloud, DevSecOps, Big Data, Open Source, Customer Experience and more. Working with resellers, systems integrators and consultants, our sales and marketing teams provide industry leading IT products, services and training through hundreds of contract vehicles.
About CornerstoneAI Inc:
CornerstoneAI Audits, Inc is the creator of the BiasFinder AI technology designed to assess bias within machine learning AI systems of any size and provides data-engineering and social ethics consulting assessments of AI eco-systems having established an audit program to attest to Fairness, Accuracy, Transparency and ensure AI systems are Explainable to all stakeholders.
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