Orion Signs Agreement to Acquire Romania-based Tellence Technologies
EDISON, N.J., Feb. 8, 2021 /PRNewswire/ -- Orion Innovation ("Orion"), a leading digital transformation and product development services firm, and Tellence Technologies ("Tellence"), a privately-held technology services company headquartered in Bucharest, Romania, have entered into a definitive agreement under which Orion will acquire Tellence. With this acquisition, Orion is strengthening its European presence by establishing an R&D operation in Romania, with associates across Bucharest and other major cities, as well as Tel Aviv, Israel. The Bucharest site will host more than 300 engineers, primarily focusing on Digital Product Development services for several global clients. The Romanian operation is expected to continue its rapid expansion, growing to over 1,000 engineers in the coming years.
Founded in 2012, Tellence develops and delivers cutting-edge technologies to companies in telecommunications and media, cyber security, and other industries. Tellence's clients include emerging unicorns disrupting the telecommunications industry. The company has a history of strong growth over the past decade, serving as the trusted research and development partner to drive innovation for its clients and help them scale.
"Tellence has a successful track record developing next-generation products for leading technology and telecommunications companies," said Raj Patil, CEO of Orion. "They are at the forefront of the latest innovations. Adding Tellence's talented engineering team to Orion brings our clients another layer of deep engineering expertise and forward-thinking innovation. Expanding across Europe is a key step in our aggressive growth strategy towards building a global digital transformation platform. Our new clients will benefit from Orion's already strong product development expertise and broader digital transformation capabilities. I'm thrilled to welcome the Tellence team."
Upon closing of the transaction, Tellence associates will become part of Orion's Digital Product Development team. Efi Levinzon, Co-Founder and CEO of Tellence, and Leo Radu, Co-Founder and General Manager of Tellence, will join Orion's management team. Radu will lead Orion's Romanian team as General Manager, and Levinzon will lead sales, partnerships, and client relations in Israel and other geographies.
"Joining Orion will give us the infrastructure to further expand into the U.S. and European markets and to access a global base of engineers to help our clients scale even faster," said Levinzon. "Our clients are expanding around the world and partnering with Orion gives us a growing set of product development and digital transformation capabilities to support their global business objectives."
Alex Bogachek, who leads Orion's Digital Product Development team globally, said "Tellence has a world class engineering team in Romania that will greatly benefit Orion's clients across the globe. Adding an R&D delivery center in Romania is a perfect complement to our existing digital product development teams in Europe, across Russia, Serbia, and Lithuania. We look forward to leveraging the great engineering talent in Romania for our clients."
Orion is a portfolio company of One Equity Partners (OEP), a middle market private equity firm focused on building market-leading companies by identifying and executing transformative business combinations.
"The addition of Tellence's talented engineers and capabilities to Orion continues OEP's strategy of building Orion into the leading digital transformation firm in partnership with management to solve our customers' most complex problems," added Chip Schorr, Senior Managing Director, One Equity Partners. "Orion has been able to augment its organic growth with a strategic acquisition program that has created a company with great vertical market depth and the broadest skill set in its industry."
The Tellence transaction expands Orion's strength to more than 4,500 global associates evenly distributed across Europe, Asia Pacific, and the U.S.
Perkins Coie, LLP acted as legal advisors and Cohn Reznick, LLP as financial and tax advisors to Orion on this transaction. View Partners Capital LLC acted as the exclusive financial advisor for Tellence Technologies SRL on this transaction.
About Orion Innovation
Orion Innovation ("Orion") is a leading digital transformation and product development services firm. Rooted in engineering and design thinking, along with a unique combination of agility, scale and maturity, its team of over 4,500 associates help Fortune 1000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in the Americas, Europe, and APAC, Orion serves clients across financial services, professional services, telecommunications and media, automotive, industrial automation, professional sports and entertainment, life sciences, e-commerce, and education. For more information, visit www.orioninc.com
About Tellence Technologies
Tellence Technologies ("Tellence"), established in 2012, is a leading provider of high-tech Software & Engineering services. The company is focused on research & development and customer engineering support, and its engineering solution center handles software development, quality assurance, and customer support. Tellence operates in a broad range of industries including automotive, telecommunications, cybersecurity, OTT and broadcasting, satellite communications, and semiconductors. Tellence offers innovative and advanced solutions that are flexible in providing each customer with the right offering for their needs and scope, as well as deep operational and development experience. For more please visit: www.tellence.net
About One Equity Partners
One Equity Partners ("OEP") is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
Media:
For Orion Innovation:
Joe LoBello
LoBello Communications
516-902-2694
Joe@LoBelloCommunications.com
For One Equity Partners:
Kelly Holman
Stanton
646-502-3509
KHolman@StantonPRM.com
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SOURCE Orion Innovation
