June 02, 2022
ASGN Inc. (NYSE: ASGN) signed a deal to acquire GlideFast Consulting LLC for $ 350 million in cash. GlideFast is a ServiceNow partner and IT consulting, implementation and development company.
The deal is expected to close in early July.
GlideFast has over 350 consultants across the US, Canada and India with over 150 active customers. It was founded in 2015 and is headquartered in Waltham, Massachusetts.
Forecast 2022 revenue for GlideFast is $ 95 million. The company estimates revenue will increase by approximately 30% by 2023.
“In line with our three-year strategic growth plan, our acquisition of GlideFast supports ASGN’s commitment to acquire in-demand commercial consulting firms that are growing, combined with expected revenue synergies and the organic growth of our underlying business, will bring ASGN closer to our goal. of $ 6 billion in revenues in 2024, ”said Ted Hanson, CEO at ASGN.
Plans for GlideFast to be part of ASGN’s Apex Consulting Services division.
Based in Richmond, Virginia, ASGN provides IT, engineering, life sciences and marketing/creative staffing as well as government solutions.
“This investment from ASGN will greatly enhance our ability to serve the ServiceNow marketplace,” said Michael Lombardo, GlideFast CEO
ASGN also confirmed that it expects to report revenue for the second quarter to be within its previously announced range of between $ 1,108.0 million and $ 1,128.0 million.
.