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WASHINGTON, DC, April 14, 2004 - ICF Consulting announces the sale of Energy Solutions, Inc. (ESI), a subsidiary of ICF Consulting focused on large-scale energy software products, to Nexus Energy Software. The terms of the sale are not disclosed.
ICF Consulting, a $150 million consulting firm, developed ESI as a leading software provider, but saw that further growth would be enhanced in a firm dedicated to large-scale software solutions. The ESI transaction will enable ICF Consulting to focus on and strengthen its core competencies in consulting, including globally recognized analytical, modeling, and information technology application services to private industry and government agencies.
"As a firm providing comprehensive advisory services, we feel that selling and supporting a large-scale transactional software product suite no longer fits into our strategic growth plan. We will continue to invest in and enhance our premier analytical consulting services to the energy industry, including further development of our proprietary modeling capabilities. ESI has become a major software product provider for which continued growth could be best advanced in an industry-specific software company. We are confident that we have found an exemplary buyer for ESI in Nexus Energy Software,” said Sudhakar Kesavan, CEO of ICF Consulting. “We will reinvest the resources that we derive from the sale of ESI into ICF Consulting’s analytical and information technology consulting services to both its private and public clients.”
ESI’s Energy Vision Enterprise™ is a large-scale, integrated, software application for regulated and unregulated energy companies. It combines state-of-the-art technology with decades of deep industry knowledge to support millions of complex customer transactions for utilities, retail marketers, and wires companies. The software supports operating processes that require estimation and aggregation of customer meter and billing data, including enhanced T&D network planning and management, load forecasting, complex billing and settlement.
Nexus Energy Software Inc. with headquarters in Wellesley, MA provides energy companies with software solutions that enhance customer service quality and efficiency by helping customers better understand and manage their bills, encouraging customer self-service and e-billing, and increasing first call resolution. Nexus’ ENERGYprism® applications deliver useful, personalized bill content—including bill change analysis, appliance level costs, benchmarks, and analysis of options—on client web portals, in call centers, and on paper bills. ENERGYprism’s analytics add value to customer data and integrate easily with existing CIS and CRM systems.
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ICF International (Nasdaq: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, environment, transportation, social programs, defense, and homeland security markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 1,800 employees serve these clients worldwide. ICF’s Web site is http://www.icfi.com.
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For Immediate Release
Contact: Douglas Beck
1.703.934.3820
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