CACI International Inc ( NYSE: CACI) announced today that it has acquired IDL Solutions, Inc., a leading provider of information technology solutions, applications, and mission-critical systems support to healthcare IT clients and other civilian agencies. This acquisition expands CACI’s presence in the $33.5 billion addressable healthcare market and the federal health insurance area in particular, and complements its November 2012 acquisition of healthcare IT provider Emergint Technologies, Inc.
Founded in 1993, IDL Solutions has over 100 employees and is headquartered in Germantown, Wisconsin with federal offices in Reston, Virginia. The company leverages “big data” analytics to help healthcare organizations gain new insights from large volumes of health data, which in turn drives cost-effective business processes, improves patient care, and increases mission success. Its workforce has extensive experience in application development, data analytics, and business automation and IT support. The company has achieved the Software Engineering Institute’s globally recognized, independent assessment of CMMI® Level 3.
IDL Solutions has major contract vehicles at the Department of Health and Human Services (HHS), specifically with the Centers for Medicare and Medicaid Services, Food and Drug Administration, and National Institutes of Health. Its 2012 revenue is expected to be approximately $18.5 million, and the acquisition is expected to be slightly accretive to CACI’s earnings per share during its first 12 months. Terms of the transaction were not disclosed.
John Mengucci, CACI Chief Operating Officer and President of U.S. Operations, said, “With our acquisition of IDL Solutions, CACI has specialized capabilities to address the challenges of clients in the federal civilian healthcare and health insurance spaces. In particular, IDL Solutions’ expertise in big data will enable us to provide the critical data collection, storage, analysis, and dissemination capabilities that enable healthcare organizations to improve customer service, minimize fraudulent activities, and promote better patient care.”According to Dan Allen, CACI President and Chief Executive Officer, “CACI’s acquisition of IDL Solutions, coupled with our recent acquisition of Emergint Technologies, is an important step in our strategy to build CACI’s healthcare IT business. This acquisition falls under our newly formed Federal Civilian Solutions business group, which includes healthcare, and aligns with our ongoing growth strategy to gain a larger share of the rapidly growing Healthcare IT market.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV