ICF To Acquire Incentive Technology Group For $255M

ICF To Acquire Incentive Technology


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Fairfax-based counseling and innovation administrations supplier ICF International Inc. plans to obtain Arlington-based cloud administrations supplier Incentive Technology Group LLC (ITG) for $255 million, ICF declared Tuesday.

The end of the exchange is dependent upon endorsement and is relied upon to happen in the main quarter.

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“IT modernization and cloud together is assessed to be roughly a $21 billion government market and one in which ICF as of now has picked up footing through natural extension,” ICF President and CEO John Wasson said in an announcement. “The 350 or more individuals at ITG are driving transformational arrangements through the appropriation of cutting edge advancements for central government offices. … We see critical income cooperative energies by joining ICF’s area aptitude … with ITG.”

ITG was established in 2010 and essentially works with national government office customers on cloud-based executions and other IT administrations, for example, engineering and structure of code pipelines. In 2019, ITG had around $90 million in income, and finished the year with an income run-rate in abundance of $100 million.