ASGN Incorporated has signed a definitive agreement to acquire ServiceNow Partner, GlideFast Consulting LLC, a press release reported.
“We look forward to welcoming GlideFast to ASGN and together building a world-class ServiceNow consulting team,” said ASGN President Rand Blazer in the release. “With significant client synergies along with the cultural similarities amongst our two businesses, we will quickly and strategically scale GlideFast’s operations within our current customer base, while at the same time leverage their value-added services and proven track record to build upon our growing new business pipeline.”
The transaction, valued at $350 million in cash, is subject to Hart-Scott-Rodino (HSR) and other customary closing conditions. The deal is expected to close in early July.
“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,” ASGN CEO Ted Hanson said in the release. “By aligning our current IT consulting offerings with that of GlideFast’s expertise, we will jumpstart our ServiceNow business within Apex Consulting Services and immediately gain access to an industry-leading salesforce and consulting team. Together, we will ensure that ASGN’s commercial client base has the right talent to push forward the next generation of enterprise business process modernization.”
Established in 2015, ASGN specializes in ServiceNow implementations, integrations, managed support and application development, offering tailored solutions and professional services, according to a press release. Recently named the 2022 ServiceNow Americas Elite Segment Partner of the Year, the company is credited with 1,800 certifications and 1,500 completed ServiceNow projects.
GlideFast now oversees more than 350 consultants across the U.S, Canada and India, all set to transition under ASGN’s leadership. According to a recent press release, its ServiceNow platform is celebrating a 30.5% revenue growth and “is quickly becoming the go-to operating system of enterprises worldwide looking to optimize their processes and digitize their entire businesses.”
The company currently reports more than 150 active customers and projects an incoming revenue of $95 million for the year of 2022. With its addressable market for the ServiceNow platform summed up to be approximately $190 billion by ServiceNow, the company’s client-base in the region includes TMT (Telecom, Media, Technology), Financial Services, Consumer and Industrials, Business & Government Services and Healthcare.
“GlideFast is the 2022 Global Elite Partner of the year. We are excited to continue to expand our ServiceNow practice by delivering top notch implementation services to ASGN’s Fortune 1000 customers. This investment from ASGN will greatly enhance our ability to serve the ServiceNow marketplace,” GlideFast CEO Michael Lombardo said in the release.