Henrico-based ASGN to acquire Quinnox for $290M

Henrico County-based Fortune 1000 IT and professional staffing firm ASGN announced this week that it will acquire Chicago-based digital services company Quinnox for $290 million in cash.

The deal is expected to close in March, subject to customary closing conditions. Following the Tuesday announcement, ASGN’s stock price jumped 5% on Wednesday. Founded in 2002, Quinnox provides a variety of digital technology and application services to enterprise customers.

“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,” said ASGN President Shiv Iyer in a statement.

Quinnox, which also has offices in India and the United Kingdom, has a portfolio that includes application management and modernization, custom application engineering, data, AI, analytics and enterprise software consulting and integration. The company’s U.S. and European client base spans five key industries: business and financial services, environment and energy, consumer retail, distribution and transportation and manufacturing.

“We are thrilled to become part of the ASGN team and see great promise in joining forces,” said Quinnox founder and Chair Anil Kumar in a statement. “Our shared values of agility, innovation and deep client engagement create a powerful foundation for collaboration. 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.”

Quinnox generated approximately $100 million in revenue in 2025. This year, it expects to achieve low-to-mid teens revenue growth and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margins in the low 20% range for the year.

In fiscal 2024, ASGN earned $4.1 billion in revenue, down from $4.45 billion the previous year. The company’s fourth-quarter and full-year earnings call for 2025 will take place Feb. 4.

In November 2025, the company announced it would rebrand as Everforth in the first half of this year. ASGN is the parent company of six brands focusing on AI and data, cloud and infrastructure, digital engineering, customer experience, cybersecurity and enterprise platforms: Apex Systems, Creative Circle, CyberCoders, ECS, GlideFast Consulting and TopBloc.