DLH Holdings (Nasdaq: DLHC) has acquired professional and technical consulting firm Irving Burton Associates for $32M in cash to expand the former’s technology-based health care service offerings for the defense and federal civilian markets.
Mary Dowdall will continue to lead the acquired organization that will operate under the DLH mission services and solutions unit led by Helene Fisher, the company said Thursday.
DLH noted it will review the deal at a conference call to be held on Wednesday and provide additional terms of the transaction in upcoming Securities and Exchange Commission filings.
Falls Church, Virginia-based IBA offers research, technical and systems development support to the U.S. Army and other Department of Defense components, as well as holds government contracts supporting programs in the health IT, data analytics, artificial intelligence and cybersecurity areas.
“For several decades IBA has leveraged its expertise in program management, research and engineering, and health data analytics to expand its business in support of agencies in the Military Health System,” said Zachary Parker, president and CEO of DLH.
Parker added that he believes the transaction will add health care technology business opportunities to the company.
Becker & Poliakoff LLP and Holland & Knight LLP served DLH’s legal advisers while Baird acted as its financial adviser. Lockton Companies and Baker Tilly also served as consultants to DLH during the acquisition process.
KippsDeSanto & Co. acted as financial adviser to IBA.
