Staffing Services Acquisition: Kyyba Buys Asen
Technology solutions firm Kyyba Inc. has acquired Chicago-area professional services and staffing firm Asen for an undisclosed amount.
This is technology M&A deal number 185 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Founded in 1998, Kyyba has around 800 employees working from offices in the United States, Canada, Mexico, India and Belarus. The minority-owned technology solutions company provides staffing services, managed services, employment services and IT project management.
Asen was founded in 1975, and is the public-facing name for LG Associates. The company provides professional services with national coverage. Based in Schaumburg, Illinois, Asen provides strategic staffing solutions in the IT, engineering, graphics, creative and marketing and clinical and medical spaces to commercial companies and government agencies.
The acquisition will add more than 80 new employees to Kyyba’s team, the company said. Lana Gertz, Asen’s president, will remain with the company to help with the transition, Kyyba announced.
Kyyba Acquires Asen: Executive Insight
Tel Ganesan, founder and chairman of Kyyba, commented:
“We are delighted to add Asen to the Kyyba portfolio of companies. Asen’s proven track record of providing premier professional services complements Kyyba’s existing national and global offerings and supports Kyyba’s continued growth and client offerings.”
Thiru Ganesan, president and CEO of Kyyba, added:
“Asen has long term stable clients in the health care and government sectors, with good revenue growth, and highly skilled employees. Asen is a well-known company in the marketplace and is consistently ranked in the top 10 from its major clients. (We) recognized that Asen and its team could further contribute to Kyyba’s reputation and track record as an international leader in technology solutions and workforce management.”
CEO ally, Inc., a tech-focused, mid-market M&A advisory firm in Pittsburgh, advised Kyyba in this acquisition.
IT Staffing Mergers and Acquisitions: Strong M&A Activity
M&A activity in the IT staffing market has been steady to strong, though valuations are rarely disclosed. Noteworthy deals include:
- February 2021: Consulting Solutions, backed by private equity firm White Wolf Capital, acquired TEK Connexion.
- February 2021: Ettain Group, backed by private equity firm A&M Capital, acquired Mesa, Arizona’s INT Technologies.
- September 2020: Futuris acquired Fortek and Soft2001, two New Jersey-based IT staffing firms.
- February 2020: BG Staffing acquired EdgeRock Technology Partners, an MSP & IT consulting firm for Oracle, Salesforce, SAP, ServiceNow, Workday and Tableau applications expertise.
- January 2020: Ampcus Inc acquired iTech Solutions.
- December 2019: ZRG Partners acquired Miror partners; pushing deeper into executive search, leadership development and talent recruitment for the technology industry.
- October 2019: Ettain Group, backed by private equity firm A&M Capital, acquired Global Employment Solutions (GES) & Leidos Health.
- March 2019: Saggezza acquired Omni Resources, a Milwaukee-based IT consulting, talent and software development firm.
- May 2018: Private equity firm Littlejohn & Co invested in Motion Recruitment Partners, a global IT staffing and recruitment firm.