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.”
IDL Solutions, Inc. President and Chief Executive Officer Baly Ambegaoker said, “We look forward to bringing our committed team and healthcare analytics capabilities to CACI and growing together as we continue to address mission challenges across the federal healthcare IT landscape.”
CACI provides information solutions and services in support of national security missions and government transformation for Intelligence, Defense, and Federal Civilian clients. A member of the Fortune 1000 Largest Companies and the Russell 2000 Index, CACI provides dynamic careers for approximately 14,900 employees working in over 120 offices worldwide. Visit www.caci.com.
There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the successful closing and integration of our acquisition of IDL Solutions, actual revenue and earnings realized by IDL Solutions and the performance of the financial management and business services business as well as the risk factors set forth in CACI's Annual Report on Form 10-K for the fiscal year ended June 30, 2012, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.
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