ASGN Incorporated Announces Acquisition of LeapFrog Systems, Inc.
ASGN Incorporated (NYSE: ASGN), one of the foremost providers of information technology (IT) and professional services in the technology, digital, creative, engineering, life sciences and government sectors, announced today the acquisition of LeapFrog Systems, Inc. (“LeapFrog”) for up to $72.0 million in cash. The acquisition deepens and expands ASGN's capabilities in digital innovation and enterprise solutions for its financial services, insurance and healthcare clients. LeapFrog will become part of ASGN’s Apex Systems division.
LeapFrog is a specialized consultancy headquartered in Boston, Massachusetts and focused on providing enterprise-scale digital business transformation services to Fortune 500 clients. Over its 20-year history, the Company has developed a strong presence in the financial services, insurance and healthcare sectors. LeapFrog offers digital capacity on demand, including strategy and implementation services, as well as provides digital transformation consulting to organizations looking to drive modernization within their technology products and systems, while simultaneously accelerating their growth strategies. LeapFrog anticipates approximately $33.3 million in revenues for full year 2020 along with double-digit revenue growth in 2021. ASGN expects to realize revenue synergies by leveraging LeapFrog’s robust capabilities to capture an increased portion of the Apex Segment’s expanding pipeline of commercial consulting opportunities.
“I am very pleased to announce the acquisition of LeapFrog, which further enhances our commercial consulting capabilities,” said ASGN President and Chief Executive Officer, Ted Hanson. “At ASGN, we are committed to delivering value to all of our stakeholders by strategically growing our business in areas of increasing customer demand, while at the same time scaling our consultative capabilities in the key industry segments we serve. The acquisition of LeapFrog fits perfectly with each of these goals. Their industry expertise, geographic location and unique digitization services strengthen ASGN’s digital roadmap solutions. We have been witnessing an accelerating trend toward digital transformation, making now the ideal time to welcome LeapFrog to ASGN.”
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