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Announced

Completed

One Equity Partners-backed Orion Innovation completed the acquisition of Tekmark Global Solutions.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Completed

cyber security

Single Bidder

Software

Private Equity

United States

software engineering

Acquisition

Private

Friendly

Synopsis

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One Equity Partners-backed Orion Innovation, a provider of digital transformation and product development services, completed the acquisition of Tekmark Global Solutions, a global technology services firm specializing in software engineering, quality engineering, telecom engineering, managed services, cybersecurity and data analytics. Financial terms were not disclosed. "Strengthening the engineering capacity of our US-based delivery centers has been a strategic priority for Orion as we aggressively grow our digital transformation platform to deliver 'agility at scale'. This acquisition achieves that objective. Despite the sudden impact to business by the global pandemic, we've been able to continue to execute on our strategic growth plans. For that, we are thankful to our associates, clients, and partners for their role in helping us stay on this track by seamlessly adapting to this new normal," Raj Patil, Orion CEO.

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