ICF to buy management firm
- By Michael Hardy
- Jan 24, 2008
ICF International plans to acquire Jones and Stokes Associates, an integrated planning and resource management firm, for about $50 million.
The companies said today that they have signed a definitive agreement for the acquisition, but the deal is still subject to Jones and Stokes' shareholder approval. The companies expect to close the deal in February.
Jones and Stokes specializes in transportation, water, energy and natural resource management. The firm has a mix of federal, state and local government clients in addition to commercial customers. ICF expects Jones and Stokes to generate about $72 million in revenues in 2008.
The acquisition will expand ICF's market for implementation and advisory services, said Sudhakar Kesavan, the company's chairman and chief executive officer.
Technology journalist Michael Hardy is a former FCW editor.