Tech firm Orion Innovation enters Into a strategic merger with Sryas By CIOTechOutlook Team

Tech firm Orion Innovation enters Into a strategic merger with Sryas

CIOTechOutlook Team | Wednesday, 22 February 2023, 03:02 IST

Sryas, Inc. ("Sryas"), a leading global technology business, and Orion Innovation, a leading provider of digital transformation and product development services, announced their strategic merger. Sryas focuses in offering telecoms firms services and solutions for digital transformation. With large nearshore resources in Canada, the transaction broadens Orion's telecommunications industry offerings and increases its global reach.

The data management, analytics, and business support services offered by Sryas round out Orion's line of digital goods and solutions for telecom carriers. With Analance by Sryas, an all-in-one, modular plug-and-play data analytics platform, Sryas adds new intellectual property to Orion. One of the biggest telecommunications corporations in Canada is among the company's clients.

More than 550 new employees from Sryas join Orion, including engineers from Canada, Mexico, India, and the Philippines, bringing the total number of employees and key worldwide delivery centres to almost 7,000. Vish Ramesh, President and CEO of Sryas, will join Orion's management group as a result of the transaction.

"Our combination with Sryas strengthens Orion's nearshore capabilities and adds significant nearshore resources in Canada," said Raj Patil, CEO and President of Orion. "Sryas' telecom expertise, strong set of complementary solutions, and proven track record of growth with one of Canada's top communications companies is a perfect fit for Orion's leading telecom practice. Adding Sryas will enable us to deliver even greater value to our combined clients with a comprehensive set of transformative solutions. This merger is another step in building a geographically balanced footprint across the Americas, Europe, and APAC. We are excited to welcome Vish and the entire Sryas team to Orion."

"We are thrilled to join Orion and become part of the company's global digital transformation platform," said Ramesh. "Joining forces strengthens our collective nearshore capabilities and significantly expands our combined solution set to serve clients in strategic industries and geographies. It also gives our team new opportunities to work with a broad set of global enterprises, and become part of Orion's unique global-local culture focused on growth opportunities for our talent."

One Equity Partners (OEP), a middle market private equity firm dedicated to creating market-leading businesses through the identification and implementation of transformative business combinations, has Orion as one of its portfolio firms.

"Adding Sryas to Orion's industry-leading digital transformation platform continues to scale its global operations and brings new opportunities to drive long-term growth in the Telecommunications & Media vertical," said Chip Schorr, Senior Managing Director, One Equity Partners. "This is a powerful combination that adds value for both companies' clients and strengthens their collective capabilities in high-growth sectors and geographies."

Sryas's sole financial advisor for the deal was o3 Capital.