Germantown's IDL Solutions sold [Milwaukee Journal Sentinel]
(Milwaukee Journal Sentinel (WI) Via Acquire Media NewsEdge) Jan. 03--CACI International Inc. said it has acquired IDL Solutions Inc., an information technology company based in Germantown with more than 100 employees and revenues of about $18.5 million in 2012.
Financial terms were not disclosed.
CACI, based in Arlington, Va., provides information technology services to the federal government as well as state and local governments and commercial customers. The company had revenue of $3.8 billion for its fiscal year ended June 30 and employs 14,900 people in more than 120 offices worldwide.
Contracts with the federal government accounted for 94.5% of CACI's revenue in its last fiscal year, according to its annual report filed with the Securities and Exchange Commission. The Department of Defense generated 78% of the company's revenue.
IDL Solutions' services include application development, data analytics, business automation and information technology support. The company, which also has offices in Reston, Va., has contracts with the Centers for Medicare and Medicaid Services, Food and Drug Administration and National Institutes of Health.
Calls to CACI and to IDL Solutions were not returned Wednesday.
CACI stock closed Wednesday at $56.85 a share, up $1.82, or 3.3%, on a day when military contractors overall posted strong gains after the federal budget deal.
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