Middle market private equity firm One Equity Partners (OEP) has entered into an agreement to acquire Orion Business Innovation (Orion), a fast-growing global digital transformation firm.
Financial terms of the private transaction have not been disclosed.
Headquartered in Edison, NJ 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 organised 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,” says 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,” says 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,” says Carlo Padovano, an OEP Managing Director.
OEP has recently made several investments in the IT services space, including Rizing, a leading US-based provider of SAP systems integration and consulting services, and Lutech, a European IT system integration provider.
