Global IT Firm Orion Acquires Vernalis
On Mar 24, 2017Orion, a global IT business solutions firm, announced the acquisitions of New York-based Vernalis Group, Inc. and India-based Vernalis Systems Private Limited (together, “Vernalis”). With this acquisition, Orion further solidifies its presence in the Professional Services industry vertical, and adds a new industry vertical of Global Sports & Entertainment.
Vernalis provides custom software and technology solutions to a variety of enterprise clients in the financial services and professional athletics industries. With consultants located in the United States, India and Australia, the company provides unparalleled expertise in using emerging technologies to simplify and automate complex business processes for its customers. Over the years, Vernalis has established several key, stable and long-standing relationships with marquee customer accounts, therefore adding to Orion’s already impressive list of strong customer partnerships.
Orion focuses on delivering solutions across data, analytics, enterprise collaboration, risk and compliance, knowledge management and cloud; enabling its customers to drive their journey “from data to decision making”. The company has established itself as a strategic partner to numerous Fortune 1,000 and large enterprise clients in the financial services, telecom, healthcare, consumer products, education, and government industries. Through its US base and offshore development centers in India, Orion services a broad range of client engagements and delivers cutting edge and cost-effective solutions to clients. Orion is an investment of Washington, DC-based private equity firm Potomac Equity Partners.
“We are excited about the acquisition of Vernalis and the opportunities of our combined company,” said Raj Patil, Chief Executive Officer of Orion. “Rarely do two firms bring such a similar customer engagement model to bear; and the resulting close partnerships that Vernalis has developed with its marquee customers will be a valuable addition to Orion’s existing list of customer partners.” He added: “The combination of Vernalis and Orion will enable both companies to become even more adept at providing its customers with world-class, innovative, scalable, high-performance, and value-added technology solutions.”
“Orion represents the ideal acquirer for Vernalis. With its similar focus on developing meaningful partnership-oriented relationships with its customers via its efficient use of a global footprint like Vernalis, the two companies are naturally suited to work together,” said Bala Chandra, Founder and CEO of Vernalis. He added: “Many thanks to the firm of Sett & Lucas, the exclusive sell side advisors for the transaction.”
“Vernalis and our customers are looking forward to the expanded scale and capabilities that the combination with Orion will provide, as this transaction represents a true win for Orion, Vernalis and our collective customer base,” said Nate Hanafy, Managing Director, New York of Vernalis.
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