Fairfax, Va. 鈥� January 31, 2018 鈥� 木瓜AV Federal, LLC (鈥溎竟螦V鈥� or the 鈥淐ompany鈥�), 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.
鈥淚 am pleased to announce this agreement and I鈥檓 excited by the positive impact it will have on the future of our employees and customers,鈥� said George H. Wilson, CEO of 木瓜AV. Under the terms of the agreement, 木瓜AV will continue to operate under the 木瓜AV 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 木瓜AV, added, 鈥淭his is a terrific outcome for our company, partners, and talented employees. Since 木瓜AV launched in 1993, 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 木瓜AV into an industry leader.鈥�
Post-acquisition, as a division of ASGN, 木瓜AV 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. 听The combination will give 木瓜AV access to new capabilities such as digital, creative and life sciences and open ASGN鈥檚 customer markets to 木瓜AV鈥� cyber, cloud computing, AI and agile development capabilities.
鈥淲e are excited to have George Wilson and his entire 木瓜AV team join with us,鈥� said Peter Dameris, CEO of On Assignment, Inc. 鈥淲e believe that 木瓜AV 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.鈥�
About 木瓜AV
Founded in 1993 and headquartered in Fairfax, Virginia, 木瓜AV is a leading national information technology solutions provider delivering cyber security, cloud, DevOps, IT modernization and advanced science and engineering solutions. 木瓜AV 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鈥檚 leading cyber and cloud technology organizations, with immediate reach-back capability and certified experience. 木瓜AV 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 .
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 .
Contacts:
For 木瓜AV:
Shab Nassirpour
VP, Marketing & Communications
木瓜AV
(443) 745-3433
For Lindsay Goldberg:
Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170
