Acquisition significantly expands the Company’s customer base and relationships with the Air Force, DISA, and Army Intelligence
ASGN Incorporated (NYSE: ASGN), one of the foremost providers of IT and professional services in the technology, digital, and creative, fields across the commercial and government sectors, announced today the acquisition of IndraSoft Inc., a leading cybersecurity and digital transformation solutions provider to the federal government. IndraSoft’s team of more than 220 highly skilled consultants will be integrated into the ECS Missions Solutions business unit.
Founded in 2004 in Reston, VA, IndraSoft is an award-winning solutions provider with a deep footprint across the U.S. Air Force, Army Intelligence, and the Defense Information Systems Agency (DISA), as well as other defense agencies and the Census Bureau. IndraSoft provides depth in digital transformation, DevSecOps, cybersecurity, and cyber analytics solutions.
“We are thrilled to welcome the IndraSoft team to ASGN,” said Ted Hanson, ASGN President and Chief Executive Officer. “The acquisition of IndraSoft is yet another example of our long-term capital deployment strategy to acquire high-growth consulting businesses that position ASGN as an industry-leading provider of IT services and solutions to the commercial and government marketplaces. IndraSoft’s depth and breadth of technical capabilities, talent, and solutions align perfectly with our Federal Government Segment and ECS’ digital modernization expertise.”
“The acquisition of IndraSoft deepens our footprint at key customers, including the U.S. Air Force, Army Intelligence, DISA, and other defense agencies,” said George Wilson, President of ECS.
“IndraSoft’s innovative culture and long track record of success make it a great fit with our own unwavering commitment to exceptional service delivery for our customers. We look forward to successfully pursuing new mission-impactful work together,” added John Heneghan, Chief Operating Officer of ECS.
“At IndraSoft, we are dedicated to enabling mission results through differentiated solutions and a culture of continuous improvement,” said Neeraja Lingam, CEO of IndraSoft. “We have successfully delivered value and transformative services for nearly two decades. Now, we are excited to join ECS and accelerate our combined growth trajectory by expanding upon the resources and capabilities we can deliver to our customers.”
Equity Grants
In addition to the cash consideration, ASGN is granting restricted stock unit awards to 16 IndraSoft employees covering approximately 52,000 shares. Subject to continued service to ASGN, these grants will vest: (a) one-half on the second anniversary of the grant date, and (b) 25 percent on each of the third and fourth anniversaries of the grant date. The restricted stock unit awards were granted as employment inducement awards pursuant to the New York Stock Exchange rules.
Legal Advisors
ASGN retained Sullivan & Cromwell LLP and IndraSoft retained Pillsbury Winthrop Shaw Pittman LLP as legal counsel.
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