Our acquisition of leading open-source provider SemanticBits won the Deal of the Year award from the Association for Corporate Growth
In June 2022, we acquired SemanticBits, a leading provider of scalable digital modernization services using cloud native, open-source frameworks. They brought an impressive talent pool of 450 technologists and health practitioners with strong past performance on large-scale federal health projects—most notably with the Centers for Medicare & Medicaid Services (CMS).
Combined with our deep health domain expertise, we’re now offering an unparalleled portfolio of federal health IT services. Federal civilian agencies need big implementations to solve big challenges. The talent and capabilities we acquired from SemanticBits allows us to bring more open-source, cloud-based solutions to help them with their larger-scale, enterprise-wide modernization challenges. We’re helping them accelerate and amplify their missions, discover new insights, and quickly make critical decisions that drive better health outcomes.
For this impact-driven acquisition, the Association for Corporate Growth honored us with its 2023 Corporate Growth Deal of the Year ($50M-$250M) award. The SemanticBits deal was a proprietary, one-off transaction sourced directly by ICF’s corporate development team.
“The SemanticBits acquisition marks a meaningful step in our ability to bring even more value to our federal health clients and help them meet their missions. Together, we’re modernizing health care systems that provide some of our country’s most vulnerable populations with improved access to high-quality care.”
We have executed on an aggressive M&A strategy over the last few years, constantly growing our business in the areas where we can offer our clients the most value. SemanticBit was our largest acquisition to date in terms of business, revenue, and talent. In addition to this most recent recognition by ACG National Capital, we won the 2021 Corporate Growth Deal of the Year (over $250M) award for our acquisition of IT modernization powerhouse ITG.