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 more than 350 consultants across the US, Canada and India and more than 150 active customers. It was founded in 2015 and is headquartered in Waltham, Massachusetts.
Forecast 2022 revenue for GlideFast is $95 million. The company estimated revenue will grow by approximately 30% in 2023.
“Consistent with our three-year strategic growth plan, our acquisition of GlideFast supports ASGN’s commitment to acquire in-demand commercial consulting companies whose growth, combined with anticipated revenue synergies and the organic growth of our underlying business, will bring ASGN closer to our goal of $6 billion in revenues by 2024,” said Ted Hanson, CEO at ASGN.
Plans call for GlideFast to become 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, CEO of GlideFast.