ASGN Acquires Government Cybersecurity Consulting Firm Iron Vine
This is technology M&A deal number 863 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
ASGN, founded in 1985, is based in Glen Allen, Virginia. The company has 5,572 employees listed on LinkedIn. ASGN’s areas of expertise include IT, technology and professional services.
Iron Vine, founded in 2008, is based in Washington, D.C. The company has 150 employees listed on LinkedIn. Iron Vine’s areas of expertise include computer forensics, intrusion detection and vulnerability management.
ESC Federal Integrates Iron Vine Into Its Operations
ECS has maintained a “longstanding partner relationship with Iron Vine,” ECS President John Heneghan stated. Both companies will work together to ensure that government organizations can use their cybersecurity technologies to protect their resources against cyberattacks.
In addition, Iron Vine is expected to help ECS enhance its cybersecurity solutions, ASGN CEO Ted Hanson noted. As such, Iron Vine could help ECS capture cybersecurity contracts across civilian, defense and intelligence agencies.
ASGN Reports ‘Strong First Half’ of 2022
The Iron Vine acquisition comes after ASGN exceeded its previously announced guidance estimates in the second quarter of 2022.
ASGN’s financial results in 2Q22 included:
- Revenues of $1.1 billion, up 17.1% year over year
- Income from operations of $72.6 million, up 26.7% year over year
- Adjusted EBITDA from continuing operations of $144 million, up from $119.3 million one year earlier
ASGN recorded a “strong first half” of 2022, the company indicated. It also has created “consistent demand” for its IT services and solutions thus far in 2022, Hanson said. ASGN looks poised to remain stable for the remainder of 2022 and continue to make strides as it tries to achieve its financial goals.