ICF makes cybersecurity move with acquisition

ICF International Inc. has signed a definitive agreement to purchase Jacob & Sundstrom Inc., an information technology security firm that specializes in cybersecurity and identity management services to federal civilian and defense agencies.

Specific financial details were not released, but ICF said the all-cash purchase will be funded through its existing bank credit line.

ICF expects Jacob & Sundstrom to generate revenue of approximately $24 million in 2009. ICF expects the transaction to be accretive to earnings beginning in the first quarter of 2010.

The Baltimore company’s technical cybersecurity capabilities have positioned its clients as centers of excellence in the federal government and have made them major collaborators in the expansion of cyber situational awareness and the sharing of best practices, an ICF statement said today.

The 160-person company also offers full-scope identity management services to complement its cybersecurity capabilities, the statement added.

Jacob & Sundstrom was one of the first companies to be awarded a GSA Schedule contract to provide integration services for HSPD-12, the presidential directive that standardizes and mandates identity management for all federal employees and contractors.

Its client agencies include the Social Security Administration, Environmental Protection Agency, and the Defense Department.

"By combining Jacob & Sundstrom’s cybersecurity capabilities with ICF’s energy industry reliability and smart grid applications, we can offer an expanded range of advisory and implementation solutions across our federal and energy industry client base," Sudhakar Kesavan, chairman and chief executive officer of ICF, said in the statement.

Houlihan Lokey represented Jacob & Sundstrom in the negotiations.

ICF International, of Fairfax, Va., ranks No. 99 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.