ICF International buys software engineering company
- By Doug Beizer
- Jun 29, 2007
ICF International has acquired Z-Tech Corp., a company that provides software engineering, Web design and development and scientific computing services in support of federal health agencies.
ICF bought Z-Tech for $27 million cash payment at closing and an additional $8 million in potential payments if Z-Tech meets some goals.
ICF is trying to elevate its position in the health information technology market. Z-Tech's primary customers include the National Institutes of Health, the Centers for Disease Control and Prevention, the Food and Drug Administration, the Substance Abuse and Mental Health Services Administration and the Centers for Medicare and Medicaid Services. ICF has a presence in the health communications and policy arenas. The company is now eyeing the federal health care market.
"This transaction illustrates one key element of our growth strategy ? to expand our capabilities into key high-growth markets through the strategic acquisition of top quality, well-managed companies that enhance the solutions we can offer our clients," said Sudhakar Kesavan, chief executive officer at ICF.
Z-Tech is headquartered in Rockville, Md. and specializes in software engineering and systems integration, scientific computer modeling and simulation, bioinformatics and genomics, Web design and development, public health research and policy support and grants management systems in the health sciences and scientific support communities.
ICF is based in Fairfax, Va.
Doug Beizer is a staff writer for Washington Technology.