ASGN to Expect 20% Growth in 2025 with Acquisition of TopBloc and IT Consulting Expansion
Tempe, AZ – [Date] – ASGN Incorporated (ASGN), a leading procurement services and IT consulting company, today announced its plans to drive growth in 2025 with the acquisition of TopBloc, a premier IT consulting firm, and expansion into the high-growth IT consulting sector. The acquisition and expansion are expected to contribute to a projected 20% growth in 2025, beating the industry average.
The acquisition of TopBloc, a specialist in IT consulting services, will significantly enhance ASGN’s capabilities in the IT consulting space, particularly in areas such as cloud migration, cybersecurity, and data analytics. The acquisition is expected to increase ASGN’s presence in the rapidly growing IT consulting market, which is expected to reach $1.5 trillion by 2025, with a CAGR of 10.4%.
The expansion into the IT consulting sector will enable ASGN to tap into the growing demand for technical expertise, particularly in areas such as artificial intelligence, machine learning, and cybersecurity. The acquisition will also bring in new talent, expertise, and revenue streams, driving growth and profitability for ASGN.
"We are excited to welcome TopBloc to the ASGN family and look forward to leveraging their expertise to further strengthen our position in the IT consulting market," said Bradford S. Frankel, CEO of ASGN. "Our strategy is to build a portfolio of diverse capabilities, and this acquisition will help us to achieve our goal of becoming a leading IT consulting firm."
The acquisition is expected to be completed in the first half of 2025, pending regulatory approval. ASGN has agreed to pay an undisclosed amount for TopBloc, which will be financed through a combination of debt and equity.
The acquisition is expected to contribute to ASGN’s growth in 2025, with a projected revenue increase of 20%. This growth will be driven by the expansion of ASGN’s IT consulting capabilities, as well as the company’s continued strong performance in its other business segments, including procurement services and staffing.
ASGN’s Chairman of the Board, Lewis (Lew) E. Scheff, added, "Our board is committed to driving growth and creating long-term value for our shareholders. The acquisition of TopBloc and expansion into the IT consulting market are key components of our growth strategy, and we are confident that they will deliver strong returns for our investors."
In conclusion, ASGN’s acquisition of TopBloc and expansion into the IT consulting sector is a significant step forward in the company’s growth strategy. The acquisition is expected to drive 20% growth in 2025, demonstrating ASGN’s commitment to delivering long-term value to its shareholders.
About ASGN Incorporated
ASGN Incorporated is a leading provider of procurement services and IT consulting. The company’s mission is to deliver exceptional results through collaboration, innovation, and expertise. With a strong track record of growth and profitability, ASGN is well-positioned to capitalize on the growing demand for procurement services and IT consulting.
About TopBloc
TopBloc is a leading IT consulting firm specializing in cloud migration, cybersecurity, and data analytics. The company’s expertise and services are highly regarded in the industry, and its acquisition by ASGN will bring significant value to the company’s existing and future clients.
