ASGN Bets $290M on Quinnox to Fuel Everforth's AI and Digital Ambitions

RICHMOND, VA – January 20, 2026 – In a decisive move that underscores its strategic pivot towards high-growth technology sectors, ASGN Incorporated (NYSE: ASGN) has announced a definitive agreement to acquire Quinnox Inc. for $290 million in cash. The acquisition of the Chicago-based digital solutions provider is not merely a transaction but a foundational element of ASGN's ambitious rebranding to Everforth, a new identity designed to unify its operations and cement its position as a leader in digital engineering and artificial intelligence.

The deal, expected to close in March 2026 pending regulatory approval, brings Quinnox's specialized expertise in AI, data analytics, and application modernization under the umbrella of a company aggressively reshaping itself for the future. This move signals a clear intent to compete at the highest level for enterprise digital transformation projects, leveraging Quinnox's capabilities to serve ASGN’s extensive Fortune 1000 client base.

A Strategic Pivot to Everforth and AI

The acquisition is inextricably linked to ASGN's transformation into Everforth, a rebranding set to finalize in the first half of 2026. This initiative will consolidate ASGN's six distinct operating brands—including Apex Systems and ECS—into a single, cohesive entity focused on six core solution areas: AI and data, cloud, digital engineering, customer experience, cybersecurity, and enterprise platforms. The Quinnox deal is the first major strategic action that gives tangible form to the Everforth vision.

Ted Hanson, Chief Executive Officer of ASGN, framed the acquisition as a pivotal step in the company's long-term plan. “Joining forces with Quinnox represents a significant milestone in our long-term strategy to enhance our digital engineering and complex delivery capabilities and positions us for our next wave of growth and value creation,” Hanson stated. “Quinnox’s AI-driven approach to business and dedication to innovation fit seamlessly with our own values and objectives.”

Founded in 2002, Quinnox has built a reputation for its agile, results-driven approach. Its portfolio is rich with the exact capabilities Everforth aims to champion. This includes advanced application management, custom software engineering, and a strong focus on data, AI, and analytics. The company has developed proprietary intellectual property, including its QAI Studio, an innovation lab designed to rapidly prototype AI solutions, and Qyrus, an AI-powered test automation platform that has gained recognition from industry analysts. These assets provide Everforth with ready-made, high-value tools to accelerate AI adoption for its clients.

The Financial Machinery Behind the Deal

The $290 million all-cash transaction is financed from a position of considerable financial strength. ASGN recently reconfirmed that its fourth-quarter 2025 results are expected at the high end of its guidance, with revenues projected to reach up to $980 million and Adjusted EBITDA up to $107 million. This robust performance is generating significant free cash flow, which the company anticipates will total roughly $1 billion over the next three years.

This financial firepower fuels a disciplined and balanced capital allocation strategy. The Quinnox acquisition demonstrates a commitment to investing in strategic growth, even as the company executes a massive $1 billion share repurchase program, its largest ever. The two actions are not mutually exclusive, signaling management’s confidence in its ability to simultaneously expand its operational capabilities and deliver direct returns to shareholders.

From a valuation perspective, the acquisition price represents a multiple of approximately 2.9 times Quinnox's 2025 revenue of $100 million. With Quinnox projecting low-to-mid teens revenue growth and Adjusted EBITDA margins in the low 20-percent range for 2026, ASGN expects the deal to be accretive to its adjusted earnings per share within the first full year. This guidance notably does not yet factor in potential revenue synergies from cross-selling Quinnox’s services across ASGN’s vast client roster, suggesting further upside.

Expanding Global Reach and Client Value

A key driver of the acquisition is the integration of Quinnox’s scaled offshore delivery capabilities. With major operations in India and the United Kingdom, Quinnox provides a mature global delivery model that will enable Everforth to offer more efficient, scalable, and cost-effective digital engineering solutions. This is a critical advantage for serving large enterprise clients who demand both high-level strategic consulting and efficient, around-the-clock project execution.

ASGN President Shiv Iyer highlighted this strategic benefit, noting the plan to leverage Quinnox's platform and its deep expertise with technology partners like AWS, Databricks, and Salesforce. “Integrating Quinnox’s global delivery platform and deep expertise will allow us to immediately deliver scalable, efficient digital engineering solutions that meet evolving enterprise needs,” Iyer commented.

For clients, the merger promises a more powerful and integrated service offering. Quinnox brings with it a loyal customer base, with an average client tenure of over a decade across key industries like financial services, energy, retail, and manufacturing—all of which are complementary to ASGN's existing market segments. The combination creates immediate opportunities to introduce Quinnox’s AI and application modernization solutions to ASGN’s clients, while ASGN’s scale can help Quinnox’s existing partners tackle larger and more complex projects.

Anil Kumar, Founder and Chair of Quinnox, expressed optimism about this synergy. “By combining our proprietary IP assets with highly mature solution delivery excellence through our global capability delivery center, we will uniquely catapult Quinnox to the next level of accelerated growth,” he said, emphasizing the shared values and client-centric approach of both organizations.

Navigating Integration in a Competitive Market

With the transaction moving toward a March 2026 close, subject to Hart-Scott-Rodino regulatory clearance, the focus will soon shift to integration. The successful fusion of Quinnox’s agile, innovation-focused culture with ASGN’s larger corporate structure will be critical. Retaining Quinnox’s key talent and ensuring its proprietary platforms are effectively woven into Everforth’s broader service catalog will determine the long-term success of the deal.

The acquisition is a bold response to the intense competition and consolidation within the IT services industry. As enterprises accelerate their digital transformation journeys, they are increasingly seeking partners with proven, end-to-end capabilities in AI and data. By acquiring Quinnox, ASGN is not just buying a company; it is acquiring critical assets, expertise, and a global footprint that significantly strengthens its competitive posture as it reemerges under the Everforth banner. The move positions the combined entity to more effectively challenge larger IT consultancies and capture a greater share of the burgeoning market for advanced digital solutions.