IT Staffing Report: Aug. 4, 2022

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ASGN completes GlideFast Consulting acquisition

ASGN Inc. (NYSE: ASGN), the eighth-largest staffing firm in the US, completed its 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, which was first announced on June 2, provides ASGN with 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 now become a part of ASGN’s Apex Consulting Services.

GlideFast’s revenue will be incorporated into ASGN’s third-quarter 2022 revenue from the date of the acquisition. GlideFast is expected to contribute $95 million in revenue in 2022 and anticipates revenue will grow by approximately 30% in 2023.

“We are pleased to announce the close of our acquisition of GlideFast,” ASGN CEO Ted Hanson said. “This acquisition ideally fits with our M&A strategy of acquiring in-demand digital solution capabilities that can be strategically pulled across our large account portfolio.”

In addition, ASGN granted restricted stock unit awards to 42 key GlideFast employees covering approximately 72,500 shares.