July 06, 2022
ASGN Inc. (NYSE: ASGN), the eighth largest staffing firm in the U.S., announced today that it has completed the acquisition of Waltham, Massachusetts-based GlideFast Consulting LLC, a ServiceNow partner and IT consulting, implementation and development firm, for $ 350 million in cash.
The deal, first announced on June 2, gives ASGN access to a $ 190 billion ServiceNow addressable market.
Founded in 2015, GlideFast has more than 350 consultants across the US, Canada and India. Its management team has already become part of ASGN’s Apex Consulting Services.
GlideFast’s revenue will be included in ASGN’s revenue in the third quarter of 2022 from the acquisition date. GlideFast is expected to contribute $ 95 million in revenue in 2022 and is expected to grow revenue by approximately 30% by 2023.
“We are pleased to announce the closing of our acquisition of GlideFast,” said ASGN CEO Ted Hanson. “This acquisition fits perfectly with our M&A strategy of acquiring in-demand digital solution capabilities that can be strategically captured in our large account portfolio.”
In addition, ASGN has awarded restricted stock unit awards to 42 key GlideFast employees covering approximately 72,500 shares.
.