ICF International (NASDAQ: ICFI) has agreed to purchase marketing technology and digital services firm Olson from KRG Capital Partners and other shareholders in a $295 million cash transaction nearly one year after ICF acquired CITYTECH and Mostra.
Fairfax, Virginia-based ICF expects the transaction to close within the next month as part of its efforts to grow its customer engagement portfolio in the commercial and government segments, the company said Tuesday.
ICF also plans to use Olson’s integrated, multichannel marketing tools into the commercial digital business and support ICF’s government digital and strategic communications practice.
“Our clients are increasingly using mobile platforms, social media and the web for interacting with their customers and stakeholders, ” said Sudhakar Kesavan, ICF chairman and CEO.
“A deep and sophisticated understanding of consumer behavior combined with the use of digital technologies will be increasingly key to helping ICF’s clients implement solutions in the future.”
Following the acquisition, ICF said it will absorb 545 Olson employees and intellectual property such as Tally, Social Media Accelerator and Brand Anthropology.
Olson is a digital marketing services provider based in Minneapolis with estimated 2013 pro forma revenue of $126 million.