DC Advisory acted as the exclusive financial advisor to Blackstone Technology Group, on the sale of its Federal Division (Blackstone Federal) to ASGN Incorporated (NYSE:ASGN) for a purchase price of $85M in cash. ASGN is a publicly traded provider of IT and professional services in the technology, digital, creative, engineering and life sciences fields, across commercial and government sectors.
Blackstone Federal will become part of ASGN’s ECS government IT solutions and services segment. Blackstone Federal provides agile application development, cloud modernization and systems architecture, cybersecurity, user experience design and branding services to government clients through its technical and creative consultants. Blackstone Federal primarily serves and has a long-standing 18+ year relationship with the U.S. Department of Homeland Security (DHS).
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 and intelligence industries.