Acquisition bolsters expertise in geospatial
and open source intelligence and data analytics solutions for
federal government clients
ASGN Incorporated (NYSE: ASGN), one of the foremost providers of
IT and professional services in the technology, digital, creative,
engineering and life sciences fields across commercial and
government sectors, announced today the acquisition of Skyris, LLC
(“Skyris” or “the Company”), which is now part of ASGN’s ECS
segment. Skyris will be integrated into ECS’ mission solutions
business unit focused on a range of cutting-edge and technically
complex Department of Defense (DoD), intelligence community and
other federal civilian programs and missions.
Founded in 2010 in Fredericksburg, Virginia, Skyris is one of
the largest providers of remote sensing and data science expertise
to the National Geospatial-Intelligence Agency (NGA), the agency
responsible for providing geospatial intelligence in support of
defense and other national security missions. The Company is a
prime contractor on several NGA contract vehicles, including the
Multi-Intelligence Analytical Collection Support Services
contract.
Skyris is one of the few companies in its industry that
addresses all geospatial intelligence remote sensing methodologies.
The Company maintains a proprietary Data-as-a-Service offering,
which expedites the collection and analysis of open-source
intelligence data at scale. Skyris’ expertise and NGA relationships
enhance ECS’ own defense and intelligence community depth.
Commenting on the acquisition, Ted Hanson, ASGN President and
Chief Executive Officer, said, “Skyris’ proven success, rare
technical talent, and reputation as a trusted partner to the NGA
are a strong strategic fit for ECS. By leveraging ECS’ platform of
capabilities, customers, contract pathways, and cutting-edge
technology partnerships alongside Skyris’ geospatial intelligence
and data expertise, ASGN will further advance the mission-critical
solutions we offer our customers.”
“ECS welcomes the Skyris team,” said George Wilson, President of
ECS. “The demands and data requirements of the intelligence
community continue to accelerate. As a result, the need for cleared
remote sensing and data-science-related expertise outweighs the
available workforce. Skyris is meeting and exceeding the mission
needs of its customers. We look forward to supporting Skyris’
current contracts as well as accelerating our growth together.”
“We are honored to join ECS,” said Michael McGowan, CEO and
Co-Founder of Skyris. “The need for improved data collection,
analysis and advanced IT systems has reached an all-time high. Our
technical capabilities combined with the strength of the ECS
platform will propel our combined companies forward at just the
right time to address the proliferation of geospatial data.”
Equity Grants
In addition to the cash consideration, ASGN is granting
restricted stock unit awards to seven Skyris employees covering
approximately 12,000 shares. Subject to continued service to ASGN,
the grants will vest: (a) one-half on the second anniversary of the
grant date, and (b) 25 percent on each of the third and fourth
anniversaries of the grant date. The restricted stock unit awards
were granted to the employees of Skyris as employment inducement
awards pursuant to New York Stock Exchange rules. Full financial
terms of the transaction were not disclosed.
Legal and Financial Advisors
ASGN retained Sullivan & Cromwell LLP as legal counsel on
the transaction. Skyris retained Greenberg Traurig as legal counsel
and Chertoff Capital as their investment banking advisor.
About ASGN Incorporated
ASGN Incorporated (NYSE: ASGN) is one of the foremost providers
of IT and professional services in the technology, digital,
creative, engineering and life sciences fields across commercial
and government sectors. Operating through its Apex, Oxford and ECS
segments, ASGN helps leading corporate enterprises and government
organizations develop, implement and operate critical IT and
business solutions through its integrated offering of professional
staffing and IT solutions. ASGN’s mission is to be the most trusted
partner for companies seeking highly skilled human capital and
integrated solutions to fulfill their strategic and operational
needs. For more information, visit us at asgn.com.
About ECS
ECS, a segment of ASGN, delivers advanced solutions in cloud,
cybersecurity, artificial intelligence (AI), machine learning (ML),
application and IT modernization, science, and engineering. The
company solves critical, complex challenges for customers across
the U.S. public sector, defense, intelligence, and commercial
industries. ECS maintains partnerships with leading cloud,
cybersecurity, and AI/ML providers and holds specialized
certifications in their technologies. Headquartered in Fairfax,
Virginia, ECS has more than 3,000 employees throughout the United
States. For more information, visit ECStech.com.
About Skyris
Founded in 2010 by two career intelligence professionals, Skyris
has positioned itself at the forefront of Intelligence Community
strategy and budget priorities. Skyris is a leading provider of
remote sensing science, data science, and geospatial solutions in
support of Intelligence Community, defense and national security
missions. The Company is a leading provider of remote sensing
scientists and data scientists to the National
Geospatial-Intelligence Agency (NGA). Through its proprietary
Data-as-a-Service platform, Open Discovery Intelligence Network
(ODIN), Skyris will transform NGA’s ability to leverage open-source
intelligence to enable the agency’s teleworking goals during the
COVID-19 crisis.
Safe Harbor
Certain statements made in this news release are
“forward-looking statements” within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and involve a high
degree of risk and uncertainty. Forward-looking statements include
statements regarding our anticipated financial and operating
performance.
All statements in this release, other than those setting forth
strictly historical information, are forward-looking statements.
Forward-looking statements are not guarantees of future
performance, and actual results might differ materially. In
particular, we make no assurances that the estimates of revenues
and Adjusted EBITDA will be achieved. Factors that could cause or
contribute to such differences include actual demand for ASGN or
Skyris services, the companies' abilities to attract, train and
retain qualified staffing consultants, the companies' abilities to
remain competitive in obtaining and retaining clients, the
availability of qualified contract professionals, management of
growth, continued performance and improvement of enterprise-wide
information systems, the companies' ability to manage litigation
matters, the successful integration of Skyris, the expected impact
of the COVID-19 global pandemic on the companies’ competitive
position and demand for each of our services and other risks
detailed from time to time in reports filed with the SEC, including
ASGN's Annual Report on Form 10-K for the year ended December 31,
2019, as filed with the SEC on March 21, 2020 and ASGN's Quarterly
Reports on Form 10-Q for the quarters ended March 31, and June 30,
2020, as filed with the SEC on May 11 and August 10, 2020,
respectively. We specifically disclaim any intention or duty to
update any forward-looking statements contained in this news
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20201001006039/en/
Ed Pierce Chief Financial Officer 818-878-7900
ADDO Investor Relations Kimberly Esterkin 310-829-5400 /
kesterkin@addoir.com
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