Rocket Software has agreed to acquire software company ASG Technologies. No financial terms were disclosed. ASG is a portfolio company of Evergreen Coast Capital.
WALTHAM, Mass.–(BUSINESS WIRE)–Rocket Software:
Rocket® announced it has signed a definitive agreement to acquire ASG Technologies
Acquisition furthers Rocket’s commitment to its customers and partners to continue to grow its portfolio of enterprise software solutions
The combination of portfolios will drive a more holistic approach to generating value
Rocket Software (“Rocket®”), a global technology leader that develops enterprise modernization and optimization solutions for Fortune 500 companies and government agencies, today announced it has signed a definitive agreement to acquire ASG Technologies (“ASG”), a leading provider of solutions for the information-powered enterprise.
This acquisition furthers Rocket’s commitment to its customers and partners to continue to grow its portfolio of enterprise software solutions that increase the value of legacy platforms across the technology domains of core infrastructure, security, data & AI, application development, open source, and hybrid cloud.
“We know ASG well and are pleased to add their competencies and expertise in and around structured and unstructured data, content management, and systems management to our combined company,” said Andy Youniss, CEO, Rocket Software. “This is an important milestone in our journey of investing in global enterprise IT solutions and in our ongoing commitment to our customers. We will continue to enable our customers to evolve their core applications, take advantage of the power of their data, and operate their IT environments.”
The combination of these portfolios will drive a more holistic approach to generating value from the vast data capabilities of extensive applications at the core of their business. Decades of innovation in the content management space from ASG will continue under Rocket leadership to address the shifting challenges of integration and transparency across legacy, cloud, and SaaS environments. The systems management solutions will continue to support the efficient operation of these critical environments.
“Digital transformation has taken on a new level of priority for organizations across industries and geographies in the past year, and the urgency with which it has been embraced in the enterprise has further solidified ASG’s mission to improve the way people, information processes and systems work together to deliver business outcomes,” said Charles Sansbury, President and CEO, ASG. “With our combined expertise and shared vision, together Rocket and ASG will bring industry-leading innovation to our customer base worldwide.”
The deal is expected to close later this calendar quarter, subject to receipt of applicable regulatory approvals and other customary closing conditions. Financial terms of the deal are not being disclosed at this time.
Bank of America Securities and Barclays are acting as joint financial advisors to ASG. Gibson, Dunn & Crutcher LLP is acting as legal counsel to ASG.
About Rocket Software
Rocket Software empowers organizations to create legendary impact in the world through innovation in legacy technologies. With deep expertise in IBM Z, IBM Power, and database and connectivity solutions, Rocket provides solutions that power tens of thousands of global businesses, solving real problems and making real-world impact. Rocket is a privately held U.S. corporation headquartered in the Boston area with centers of excellence strategically located throughout North America, Europe, Asia, and Australia. Rocket is a portfolio company of Bain Capital Private Equity.
About ASG Technologies
ASG Technologies is an award-winning, industry-recognized, and analyst-verified global software company providing the only integrated platform and flexible end-to-end solution for the information-powered enterprise. ASG’s Information Management solutions capture, manage, govern, and enable companies to understand and support all types of information assets (structured and unstructured) and stay compliant. ASG’s IT Systems Management solutions ensure that the systems and infrastructure supporting that information lifecycle are always available and performing as expected. ASG has over 3,500 customers worldwide in top vertical markets including Financial Services, Healthcare, Insurance and Government. Visit ASG on LinkedIn, Twitter, and Facebook. ASG is a portfolio company of Evergreen Coast Capital, Elliott Investment Management’s technology-focused Menlo Park affiliate.