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ASGN to buy Workday consultancy TopBloc for $340M

ASGN to buy Workday consultancy TopBloc for $340M

Craig Johnson
| February 4, 2025
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ASGN (NYSE: ASGN), a provider of IT services and staffing, is acquiring Chicago-based Workday consultancy TopBloc for $340 million in cash and equity.

“The acquisition of TopBloc aligns perfectly with our strategic vision for continued growth in the IT consulting sector,” ASGN CEO Ted Hanson said in a press release.

“The increasing demand for [enterprise resource planning software] solutions among our customers is clear, and, with TopBloc, ASGN not only becomes a leader in delivering these critical capabilities through the Workday platform, but we also gain immediate additional scale in our solution offerings,” Hanson continued.

TopBloc provides Workday deployments and offers Workday support services. Its acquisition is expected to generate approximately $150 million in revenue in full-year 2025.

Plans call for the deal to close in the first quarter of this year and will be immediately accretive to ASGN on an adjusted basis. The deal is subject to the Hart-Scott Rodino Act and other customary closing conditions.

Additional details will be announced on Feb. 5 during ASGN’s fourth-quarter earnings announcement.

“TopBloc is excited to partner with ASGN as we continue to grow our Workday practice,” TopBloc CEO Christopher Skinner said in a press release. “Our acquisition presents great opportunities to leverage ASGN’s extensive client base, enabling us to demonstrate our unique implementation strength while enhancing our ability to serve the expanding Workday market.”