Army Research Lab Awards ICF $53 Million for Cyber Services

Rhea-AI Summary

The U.S. Army Combat Capabilities Development Command has awarded ICF a task order valued at $53 million to enhance cyber research and technology services over five years. This contract expands a previous initiative by $30 million and aims to bolster capabilities in artificial intelligence, machine learning, quantum computing, and cybersecurity. Jonathan Sholtis from ICF stated that this work will help the Army tackle emerging threats effectively. ICF's reputation as a key provider for federal services reinforces its standing in the defense sector.

Positive

• Awarded a new task order valued at $53 million.
• Expansion of previous contract by $30 million.
• Focus on advancing critical technology areas, enhancing defense capabilities.

Negative

• None.

FAIRFAX, Va., March 8, 2021 /PRNewswire/ -- The U.S. Army Combat Capabilities Development Command Army Research Laboratory (DEVCOM ARL) recently awarded global consulting and digital services provider ICF (NASDAQ:ICFI) a new task order valued at up to $53 million to expand the delivery of cyber research, development and technology services. It has a term of five years, including a one-year base and four option years. 

The agreement was awarded under the multiple-award Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance indefinite delivery, indefinite quantity contract awarded to ICF in 2018. The scope of work was expanded from the previous task order to include $30 million in new research initiatives. 

For DEVCOM, the Army's largest technology developer, ICF will develop technical capabilities and advancements in several key areas to help the U.S. Department of Defense and Army maintain its technical edge and improve its chances of winning future conflicts. These areas include artificial intelligence, machine learning, quantum computing, cybersecurity and information assurance, and many more. 

"The initiatives, innovations and technologies we develop through secure cyber systems engineering, agile development and rapid prototyping will enhance the Army against emerging and dynamic threats," said Jonathan Sholtis, ICF senior vice president and cyber lead. "These technologies will enable ARL to deliver strategic and tactical information capabilities across its operations and contribute to the Army's success in future conflicts. We are proud to play such a significant role in the safety and security of our nation."  

As one of the leading providers of cloud-based platform services to the U.S. federal government, ICF combines the best of enterprise technologies, advanced analytics and industry expertise to build agile solutions for clients. ICF supports federal, state and local agencies with a wide variety of services including strategic consulting, analytics, human capital management, cloud-based platform modernization, enterprise cybersecurity, disaster management, resilience planning and more. The company was recently named to G2Xchange's NXT UP list of top Federal Emerging Technology and Consulting firms.

Read more about ICF's technology and cybersecurity services.

About ICF
ICF is a global consulting services company with over 7,000 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements THAT are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

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SOURCE ICF

FAQ

What is the value of the task order awarded to ICF by the U.S. Army?

The task order awarded to ICF is valued at $53 million.

How long is the contract with the U.S. Army for ICF?

The contract with the U.S. Army is for five years, including one base year and four option years.

What technologies will ICF develop under the new contract with the Army?

ICF will develop capabilities in artificial intelligence, machine learning, cybersecurity, and quantum computing.

What was the previous contract amount before the expansion?

The previous contract was expanded by $30 million.

Who is the senior vice president of ICF involved in this contract?

Jonathan Sholtis is the senior vice president and cyber lead at ICF.