ASGN to strengthen workday consulting expertise with TopBloc acquisition

ASGN Incorporated (NYSE: ASGN), a leading provider of IT services and enterprise solutions, has announced the acquisition of TopBloc, a fast-growing Workday consulting services firm, for $340 million in cash and equity. The move cements ASGN’s position as a dominant ERP implementation partner, expanding its presence in the enterprise cloud solutions sector. The deal, subject to regulatory approvals under the Hart-Scott-Rodino Act, is expected to close in the first quarter of 2025.

Why Is ASGN Acquiring TopBloc?

ASGN’s acquisition of TopBloc aligns with its long-term growth strategy in IT consulting and enterprise cloud applications. Ted Hanson, CEO of ASGN, highlighted the increasing demand for ERP implementation partners as enterprises prioritize automation, data management, and human capital solutions.

“TopBloc has built a reputation as a trusted Workday consulting services provider, helping businesses streamline their ERP processes,” said Hanson. “By joining forces, ASGN gains additional scale and expertise, enabling us to serve both enterprise and government clients with enhanced solutions.”

TopBloc specializes in Workday deployment services, supporting organizations with human capital management, financial management, and payroll system optimization. Since its founding in 2016, the company has completed over 300 Workday installations for mid-sized and large enterprises across North America.

How Does This Acquisition Impact the Workday Ecosystem?

Workday is one of the fastest-growing enterprise cloud solutions providers, with over 70 million users worldwide and more than 60% of Fortune 500 companies as customers. The platform has been named a leader in Gartner’s Magic Quadrant for Cloud ERP, reinforcing its dominance in human capital and financial management solutions.

In Q3 of fiscal 2025, Workday reported a 15.8% year-over-year increase in subscription revenue, with forecasts indicating strong, sustainable growth through 2027. This market expansion has fueled demand for certified Workday consulting services, making the acquisition of TopBloc a strategic move for ASGN.

“The Workday ecosystem continues to grow at an impressive pace,” noted Christopher Skinner, CEO of TopBloc. “Joining ASGN allows us to expand our ERP implementation partner capabilities while continuing to deliver top-tier Workday solutions to our clients.”

With ASGN’s broader industry reach, TopBloc is expected to enhance its ability to serve enterprise clients and unlock new opportunities within the federal government sector.

What Are the Financial Implications of the Deal?

TopBloc is projected to generate $150 million in revenue for 2025, marking a 20% year-over-year growth rate. Additionally, its EBITDA margins are expected to remain in the high teens, positioning it as a profitable asset for ASGN’s Consulting Services division.

Matt Kinsey, Managing Partner at BV Investment Partners, the private equity firm that invested in TopBloc in 2020, praised the company’s rapid expansion:

“TopBloc’s leadership team has successfully scaled its operations and developed advanced Workday consulting services. Their expertise makes them a perfect fit for ASGN’s growth strategy.”

The transaction is set to be immediately accretive to ASGN, contributing to its earnings without factoring in additional revenue synergies from existing business pipelines.

How Will ASGN Integrate TopBloc into Its Consulting Services?

Following the completion of the acquisition, TopBloc’s team of over 500 consultants will integrate into ASGN’s Consulting Services division. The move strengthens ASGN’s ability to provide comprehensive ERP solutions, particularly for organizations looking to modernize their enterprise cloud solutions.

“The combination of ASGN and TopBloc is about innovation and scalability,” said Hanson. “We are confident that TopBloc’s expertise in Workday consulting services will enhance our ability to deliver tailored solutions to enterprise clients.”

TopBloc’s six primary industry verticals—including finance, human resources, and payroll—complement ASGN’s existing capabilities. The integration is expected to boost client retention and accelerate the adoption of Workday solutions across multiple industries.

What Does This Acquisition Mean for the Future of ERP Consulting?

As enterprises increasingly shift toward cloud-based ERP solutions, ASGN’s acquisition of TopBloc positions it at the forefront of digital transformation. With Workday’s total addressable market estimated at $160 billion, the demand for skilled ERP implementation partners is expected to rise significantly in the coming years.

“This acquisition solidifies ASGN’s place as a premier provider of Workday consulting services,” said Skinner. “Together, we will scale our operations, expand our reach, and provide businesses with industry-leading ERP expertise.”

The combined strengths of ASGN and TopBloc signal a new phase of growth in the enterprise cloud solutions sector, reinforcing their ability to meet the evolving needs of enterprise and government clients alike.