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ASGN Acquires Government Cybersecurity Consulting Firm Iron Vine

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ASGN Incorporated, an IT services and solutions provider, has purchased cyber operations and risk management company Iron Vine Security for an undisclosed sum.

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

Iron Vine's team of more 230 professionals will join the federal division of ECS, a Top 250 MSSP owned and managed by ASGN, the companies said.

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.

Dan Kobialka

Dan Kobialka is senior contributing editor, MSSP Alert and ChannelE2E. He covers IT security, IT service provider business strategies and partner programs. Dan holds a M.A. in Print and Multimedia Journalism from Emerson College and a B.A. in English from Bridgewater State University. In his free time, Dan enjoys jogging, traveling, playing sports, touring breweries and watching football.