Orion Innovation, an Edison-based digital services firm, has agreed to acquire a Romanian technology services company in a deal that will grow its European presence by establishing a research & development operation in that country, it announced Monday.
Orion said the deal for Tellence Technologies would give it more than 300 engineers in Bucharest, focused on digital product development for global clients, with continued expansion potentially bringing it to more than 1,000 engineers in the future, in Romania and in Tel Aviv, Israel.
“Tellence has a successful track record developing next-generation products for leading technology and telecommunications companies,” Orion CEO Raj Patil said in a prepared statement. “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.”
When the transaction closes, Tellence’s associates will join Orion’s Digital Product Development Team, with co-founder and CEO Efi Levinzon and co-founder and General Manager Leo Radu joining Orion’s management team.
Orion is a portfolio company of the middle-market private equity firm One Equity Partners. The deal gives the company more than 4,500 employees in the U.S., Europe and the Asia Pacific region.
“Expanding across Europe is a key step in our aggressive growth strategy toward building a global digital transformation platform,” Patil said.
Perkins Coie LLP was Orion’s legal adviser, while Cohn Reznick LLP was financial and tax adviser on the transaction. View Partners Capital LLC was financial adviser for Tellence on the deal.