IDL Solutions Inc., a small health-care technology firm, got its “ticket to the dance” in 2007 after winning a seat on a federal contract valued at $4 billion over a decade.
Now, it has a dance partner: CACI International Inc., which announced yesterday it had acquired IDL for an undisclosed amount.
IDL, based in Germantown, Wisconsin, had been telling potential buyers “no” about once a week, Ed Silva, the company’s senior vice president, told Bloomberg News in a February 2012 interview.
The interest in the company came after it won one of 16 seats on the contract with the Centers for Medicare and Medicaid Services. It picked up in November 2011 after the company won a $59 million order on the agreement.
“Having the spot on the contract absolutely gets you attention,” Silva said last year.
CACI isn’t the first company to buy its way onto the health contract. General Dynamics acquired Baltimore-based ViPS Inc. for $225 million in 2008 to get a spot on the deal. It got its second seat by purchasing Vangent Holding Corp., based in Arlington, Virginia, for $960 million in September.
Maricom Systems Inc., a Baltimore health-care technology firm, was bought in 2011 by Falls Church, Virginia-based Computer Sciences Corp. in part because of its spot on the deal.
Maricom’s seat on the contract was the “No. 1 selling point,” Chris Guckert, who was Maricom’s chief operating officer and who remained in his role after the sale, told Bloomberg last year. “It is the ticket to the dance and there are a lot of companies that would covet having that ticket.”