Yesterday, ICF International announced definitive plans to purchase It Security Firm Jacob & Sundstrom, Inc.
Jacob & Sundstrom , based in Baltimore, MD is a 160 person information security company whose specialty is in providing cybersecurity and identity management services to U.S.
ICF is looking at the purchase to generate more than $24 million in 2009 alone, and generate earnings by the start of the first quarter. ICF is funding the transaction the all cash transaction through its existing bank credit line.
“Leading-edge cybersecurity and identity management capabilities are the hallmark of Jacob & Sundstrom, and we are pleased to add these capabilities to serve a critical need of our government and energy industry clients, ” said Sudhakar Kesavan, Chairman and CEO of ICF
Anticipation and excitement is not one sided. Jacob & Sundstrom is eagerly awaiting the buy out.
“Joining ICF creates significant growth opportunities for Jacob & Sundstrom, whose suite of innovative information technology security services are transportable to other agencies and commercial clients served by ICF, ” said William Jacob, president and co-founder of Jacob & Sundstrom. “This is also an important growth opportunity for our highly skilled and high-clearance employees, who are joining a firm with a similar passionate commitment to its customers and their work.”