WASHINGTON, D.C., FEBRUARY 28, 2017 – Potomac Equity Partners, LLC (“Potomac Equity”), a Washington, D.C.-based investment firm whose principals have extensive experience investing in the technology sector, today announced the acquisitions by their portfolio company Orion Systems Integrators, LLC (“Orion”), of both Vernalis Group, Inc. and Vernalis Systems Private Limited (together, “Vernalis”). Terms of the transactions were not disclosed.
Vernalis provides custom software and technology solutions to a variety of enterprise clients in the financial services and professional athletics industries. With over 325 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.
Headquartered in New Jersey with a global workforce that exceeds 1,200 employees spanning four continents, Orion focuses on delivering solutions across data, analytics, enterprise collaboration, risk and compliance, knowledge management and cloud, thereby 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.
“The strong customer relationships which Vernalis and its team have developed over their history are an excellent match for the group of longstanding customers that Orion has amassed. Together, the combined companies represent a larger, stronger, and more capable organization that will continue to build upon its ability to constantly over-achieve on its clients’ expectations,” said John Bates, Founder and Partner of Potomac Equity. “Potomac Equity is honored to be partnered with the Orion and Vernalis management teams, and looks forward to continuing its efforts to support the combined company in realizing the numerous opportunities available to it.”
“We are extremely pleased with our ongoing partnership with Potomac Equity,” said Raj Patil, Chief Executive Officer of Orion. “The firm’s expertise investing in technology companies and its network of relationships within our targeted customer base have been extremely helpful as we have continued to build on the strong growth that Orion has achieved over its history.” He added “By facilitating Orion’s acquisition of Vernalis, we have added significantly to our ongoing mission of providing world-class, innovative, scalable, high-performance technology solutions to the business community.”
About Potomac Equity Partners
Potomac Equity Partners is a Washington, D.C.-based private equity investment firm focused on providing superior equity returns through the close partnership and collaboration with its portfolio company management team members. The firm strives to invest in companies with leading products and services, superior management teams, and in which its invested capital and collaborative efforts can enable companies to exponentially ramp their long-term growth prospects and overall performance. The principals of Potomac Equity have a long and successful history of investing with management teams across a wide range of industries including software and technology, education and training, information services, and healthcare IT and services. For more information, visit www.potomacequitypartners.com.
Founded in 1993 and headquartered in New Jersey, Orion is a global provider of IT solutions and services to the Fortune 1,000 and other large enterprise clients. The Company serves as a strategic IT partner for leading financial services, healthcare, communications, consumer products, education, and government organizations. Orion delivers solutions across data, analytics, enterprise collaboration, risk and compliance, knowledge management and cloud. Orion’s ability to service a broad range of clients using its blended engagement models has resulted in delivering cutting edge and cost-effective solutions to its clients, and the company has experienced revenue growth in 22 of the 23 years since its founding. For more information, visit www.orioninc.com.