Acquisition Positions Market-Leading IT Solutions Business For Transformative Growth in Fragmented Market
NEW YORK – October 22, 2018 – One Equity Partners (“OEP”), a leading middle market private equity firm, today announced that it has entered into an agreement to acquire Orion Business Innovation (“Orion” or “the Company”), a fast-growing global digital transformation firm. Financial terms of the private transaction were not disclosed.
Headquartered in Edison, N.J. and New York, Orion provides digital transformation and automation services to large enterprise customers across the financial and professional services, communications, media, professional sports, entertainment, education and healthcare industries. Orion has approximately 1,700 employees in 11 offices worldwide that are organized around serving four key areas of its customers’ needs: business transformation and automation, big data and analytics, cloud solutions and infrastructure services. In addition, Orion offers industry specific digital software platforms to the education and professional sports verticals.
“Orion is a highly sought after and trusted development partner for its world-class customers, with a high touch client servicing model, innovative approach and ability to implement a wide range of scalable technology solutions. The company has a long history of delivering the most demanding transformation projects enabling leading companies to achieve their digital goals,” said Chip Schorr, an OEP Senior Managing Director.
“OEP has strong experience in building businesses through strategic transactions and operational improvements that are highly complementary to our plans for expanding Orion’s suite of solutions and services,” said Raj Patil, CEO of Orion. “Orion is a solid platform with multiple cases of delivering innovative solutions that help our clients innovate and enhance their business models. With OEP as our new partner we have identified several attractive acquisition opportunities to accelerate our growth as a next-generation digital transformation partner to our existing and new relationships.”
“We are pleased to partner with Orion and its management team. This transaction builds on our firm’s history of partnering with management teams and founders of technology services companies to execute transformative acquisitions that compound business growth,” said Carlo Padovano, an OEP Managing Director.
OEP has recently made several investments in the IT services space, including Rizing, a leading U.S.-based provider of SAP systems integration and consulting services, and Lutech, a European IT system integration provider.
About One Equity Partners
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 170 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
Headquartered in New Jersey, Orion is uniquely positioned as a high touch, high quality and nimble solutions provider with the proven expertise and scale to solve complex problems of Fortune 1,000 customers. Orion provides digital transformation and automation services to large enterprise customers across the financial and professional services, communications and media, professional sports and entertainment, education and healthcare industries. For more information, visit www.orioninc.com.
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