FAIRFAX, Va.--(BUSINESS WIRE)--ECS Federal, LLC (“ECS” or the “Company”), one of the largest privately-held government services contractors delivering artificial intelligence, cyber security, cloud computing, DevOps, IT modernization and advanced science and engineering services to commercial and government enterprises, announced today that it has signed a definitive agreement to be acquired by On Assignment, Inc. (NYSE:ASGN) of Calabasas, CA for $775 million.
“I am pleased to announce this agreement and I’m excited by the positive impact it will have on the future of our employees and customers,” said George H. Wilson, CEO of ECS. Under the terms of the agreement, ECS will continue to operate under the ECS brand as a division of ASGN, and the current leadership team, led by George Wilson, will continue to oversee the day-to-day operations of the business and execution of its growth strategy.
Roy Kapani, founder and majority owner of ECS, added, “This is a terrific outcome for our company, partners, and talented employees. Since ECS launched in 2001, we have sought to provide our customers with the tools, people and deep technical expertise they require to execute and support their objectives. I also appreciate our partnership with Lindsay Goldberg, who understood and appreciated our vision and worked closely with us to help transform ECS into an industry leader.”
Post-acquisition, as a division of ASGN, ECS will be part of a publicly traded organization with pro forma combined revenues of $3.2 billion and $379 million in EBITDA, and 24,000+ professionals, with a total addressable market exceeding $279 billion. The combination will give ECS access to new capabilities such as digital, creative and life sciences and open ASGN’s customer markets to ECS’ cyber, cloud computing, AI and agile development capabilities.
“We are excited to have George Wilson and his entire ECS team join with us,” said Peter Dameris, CEO of On Assignment, Inc. “We believe that ECS is well positioned to achieve high single digit growth in 2018 and we are proud of the mission and critical services that they deliver every day to our military and federal agencies in support of the needs of the American people.”
About ECS
Founded in 2001 and headquartered in Fairfax, Virginia, ECS is a leading national information technology solutions provider delivering cyber security, cloud, DevOps, IT modernization and advanced science and engineering solutions. ECS designs, implements and operationalizes security capabilities for some of the most highly-targeted government customers in the world. The company maintains partnerships with the world’s leading cyber and cloud technology organizations, with immediate reach-back capability and certified experience. ECS has over 2,000 employees throughout the U.S. and has been recognized as a Top Workplace by The Washington Post for the last four years. For more information, visit www.ecsinnovates.com.
About Lindsay Goldberg
Lindsay Goldberg is a private investment firm that focuses on partnering with families, founders and long- term oriented management teams seeking to actively build their businesses. For more information about Lindsay Goldberg, please visit www.lindsaygoldbergllc.com.