ASGN (NYSE: ASGN) has completed its purchase of information technology services contractor DHA Group for approximately $46M in cash in a move to build up its ECS business segment’s IT platforms portfolio.
ECS said Monday parent company ASGN used internal cash flows to fund the acquisition of DHA, which will operate as part of ECS.
Established in 1994, DHA has more than 200 employees and provides cybersecurity, cloud, mobility and other IT support services to the FBI, intelligence and defense agencies and other federal agency clients.
ECS President George Wilson said ECS is excited to continue delivering platforms, services and expertise to the FBI and other existing clients and partner companies of DHA.
“We are also eager to offer expanded career opportunities to DHA’s talented employees as part of ECS’ performance culture,” added Wilson, a 2019 Wash100 winner.
ASGN CEO Peter Dameris said the acquisition would strengthen ECS’ long-term partnership with agencies in defense, intelligence, homeland and law enforcement agencies and that ASGN intends to help ECS reach over $1B in revenues by 2021 through targeted acquisitions and internal growth.
ASGN also announced Monday that it expects its revenues and adjusted earnings before interest, tax, depreciation and amortization for the fourth quarter of 2018 to be approximately $929.7M and $109M, respectively.