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Overview of ASGN Inc
ASGN Inc (NYSE: ASGN) is a prominent provider of professional staffing and IT solutions, serving both commercial enterprises and government agencies. Founded in 1985 and headquartered in the United States, ASGN operates through three primary business segments: Apex, Oxford, and ECS. The company’s comprehensive service offerings span technology, digital, creative, engineering, and life sciences domains, making it a critical partner for organizations seeking specialized expertise and innovative IT solutions.
Business Segments
- Apex Segment: The Apex segment focuses on providing technology, digital, creative, scientific, and engineering professionals for contract, contract-to-hire, and permanent placement roles. Catering to Fortune 1000 companies and mid-market clients, Apex addresses a wide range of workforce needs, ensuring businesses have access to top-tier talent for both short-term and long-term projects.
- Oxford Segment: The Oxford segment specializes in delivering hard-to-find technology, digital, engineering, and life sciences staffing and consulting services. By targeting niche markets and leveraging its expertise in specialized fields, Oxford supports clients in achieving their strategic goals, particularly in areas requiring deep technical knowledge and adaptability.
- ECS Segment: ECS is ASGN’s advanced solutions arm, providing mission-critical IT services to federal government agencies and commercial clients. Its offerings include cloud computing, cybersecurity, artificial intelligence (AI), machine learning (ML), IT modernization, and science and engineering solutions. ECS plays a pivotal role in addressing complex technological challenges, particularly for government clients such as the Department of Defense and intelligence agencies.
Revenue Model and Market Position
ASGN generates revenue through a combination of staffing services, consulting engagements, and IT solutions. Its diversified client base includes Fortune 1000 companies, mid-market enterprises, and government agencies, which provides a balanced revenue stream and reduces market dependency risks. The company’s ability to cater to both commercial and federal markets underscores its adaptability and strategic foresight.
Competitive Landscape
Operating in the competitive sectors of professional staffing and IT solutions, ASGN faces challenges from firms like Robert Half in staffing and Booz Allen Hamilton in government IT consulting. However, ASGN differentiates itself through its integrated service model, combining specialized staffing with advanced IT solutions. This unique positioning allows the company to address a broad spectrum of client needs, from workforce augmentation to cutting-edge technological innovation.
Industry Significance
ASGN’s role in the staffing and IT solutions industry is significant, particularly as organizations increasingly rely on specialized expertise to navigate complex challenges. The company’s focus on emerging technologies like AI, ML, and cybersecurity positions it as a forward-thinking partner in both the commercial and government sectors. By bridging the gap between talent and technology, ASGN enables its clients to achieve operational efficiency and strategic growth.
Conclusion
ASGN Inc stands out as a versatile and innovative provider of staffing and IT solutions. Its segmented approach through Apex, Oxford, and ECS allows it to address diverse market needs effectively. Whether supporting Fortune 1000 companies with talent acquisition or delivering mission-critical IT solutions to federal agencies, ASGN continues to play a vital role in enabling its clients' success in an increasingly complex and technology-driven world.
Infor and Apex Systems have partnered to implement an ERP platform at Amsterdam UMC, enhancing operational processes for one of Europe’s largest hospitals. This deployment will utilize Infor CloudSuite Healthcare, focusing on financial administration, procurement, and logistics. The two-year project aims to strengthen existing healthcare interoperability, as Amsterdam UMC is already a client of Infor. Infor’s solution is designed to optimize workflows and support innovation in healthcare delivery, with a strong emphasis on improving efficiency in medical centers.
ECS has been recognized for the second consecutive year as a top provider in the Top 250 Managed Security Service Providers (MSSPs) list, ranking ninth in 2021, up from fourteenth in 2020. The company specializes in managed security services, including managed detection and response (MDR) and security operations center-as-a-service (SOCaaS). ECS aims to reduce cybersecurity costs and complexity for organizations across various sectors. With over 3,500 employees, ECS continues to solve complex challenges in cybersecurity and IT modernization for both government and commercial clients.
ASGN Incorporated (NYSE: ASGN) will release its Q3 2021 financial results on October 27, 2021 at 4:15 p.m. ET. This will be followed by a conference call at 4:30 p.m. ET, hosted by CEO Ted Hanson. Investors can access the call by calling 877-407-0792 or +1-201-689-8263 for international participants, using Conference ID 13723652. A replay will be available from 7:30 p.m. ET on the same day until November 10, 2021. For more information, visit www.asgn.com.
ECS has secured an Other Transaction Agreement (OTA) from the Naval Information Warfare Center (NIWC) to implement the Legacy Data Consolidation Solution (LDCS). This agreement aims to enhance patient care and reduce costs for the Defense Health Agency (DHA) by migrating data from outdated electronic healthcare record systems. The consolidation will facilitate a unified patient record system, allowing for the decommissioning of legacy systems and achieving significant annual savings.
ECS, a leader in technology solutions, has secured three task orders from NOAA Fisheries. These orders will support program management, economic research, and media communication. ECS plans to develop decision support tools, including bio-economic models, and enhance communications through multimedia content. The company has over 20 years of partnership with NOAA Fisheries, focusing on improving data collection and analysis for recreational fisheries. This collaboration aims to bolster NOAA's mission to protect national fisheries, a critical resource for food and jobs in the U.S.
ECS has secured a five-year, $36.7 million contract from the United States Central Command (CENTCOM) to support military operations crucial to regional security. The contract involves providing personnel and services in areas including command and control, information sharing, and missile defense. ECS aims to strengthen CENTCOM's security posture and that of coalition partners. This award continues ECS's longstanding partnership with the Department of Defense, highlighting the company’s capabilities in advanced technology and engineering solutions.
ECS has been awarded a prime position on the GSA's ASTRO contract, focusing on the development and support of unmanned and manned systems for the Department of Defense. The contract, spanning five years with options for five more, holds significant multi-billion dollar potential without a defined ceiling. ECS's expertise in autonomous aviation, AI, and machine learning will be leveraged to enhance mission capabilities across various domains. The company aims to deliver innovative technologies to improve the effectiveness of U.S. warfighters.
ASGN Incorporated (NYSE: ASGN) will host a virtual Investor & Analyst Day on September 14, 2021, from 9:00 a.m. ET to noon. The event will feature CEO Ted Hanson and senior management discussing the company's strategic vision, market opportunities, and long-term outlook. A live webcast will be available for attendees, with links and supporting materials accessible on the company's investor relations website. Following the event, a replay of the webcast will also be available.
ASGN Incorporated (NYSE: ASGN) has finalized the sale of its Oxford Global Resources unit to H.I.G. Capital for $525 million, yielding net proceeds of approximately $415 million after taxes. This strategic divestment aims to enhance ASGN's focus on its core IT and professional services in commercial and government sectors. The transaction involved legal and financial advisory from Sullivan & Cromwell LLP, William Blair, and Truist Securities for ASGN, with Ropes & Gray LLP and Wells Fargo Securities advising H.I.G. Capital.
ASGN Incorporated has announced the acquisition of Enterprise Resource Performance, Inc. (ERPi), a healthcare consulting firm with a team of 250 consultants. This acquisition aims to enhance ASGN's Enterprise Solutions unit within its Federal Government Segment. ERPi specializes in IT solutions and healthcare domain expertise for government entities. ASGN's CEO emphasized the strategic importance of ERPi's capabilities, particularly in supporting the U.S. healthcare sector. Additionally, ASGN is granting restricted stock units to ERPi employees as part of the acquisition.
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