ICF makes $100M deal for Web developer
ICF International Inc. will pay $100 million in cash to buy Ironworks Consulting LLC, an interactive web development firm.
The purchase will be funded through ICF’s existing bank credit line, the Dec. 12 ICF announcement said.
Ironworks, of Glen Allen, Va., provides customer engagement solutions across web, mobile and social media platforms to the health, energy and financial services industries, as well as to federal government agencies and nonprofit organizations.
For 2011, Ironworks is expected to have revenues of $57 million and an operating income margin of greater than 20 percent, the announcement added.
Founded in 2001, Ironworks offers integrated customer-facing applications, including interactive, portal and content management solutions, and business and IT alignment services to Fortune 500 companies and government agencies.
Ironworks’ federal clients include the Centers for Disease Control and Prevention, Veterans Affairs Department and the National Science Foundation, among others.
ICF International Inc., of Fairfax, Va., ranks No. 64 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.
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David Hubler is senior editor of Washington Technology. Follow him on Twitter: @DavidHubler.