ORION INNOVATION ENTERS INTO A STRATEGIC COMBINATION WITH SRYAS

Adds experienced software engineers to India Team with complementary telecom industry expertise

CHENNAI, India, Feb. 21, 2023 /PRNewswire/ -- Orion Innovation (Orion), a leading digital transformation and product development services firm, today announced a strategic combination with Sryas Inc (Sryas), a global technology company. Sryas specialises in providing digital transformation services and solutions to companies in the telecommunications industry.

Sryas' capabilities in data management, analytics, and business support services complement Orion's digital products and solutions for telecommunications operators. Sryas brings new intellectual property to Orion with Analance™ by Sryas, an all-in-one, modular plug-and-play data analytics platform.

In India, enterprises are rapidly adopting emerging digital technologies like cloud computing, automation, artificial intelligence (AI), and Internet of Things (IoT) to transform their business. A recent report by the International Data Corporation (IDC) reveals that more than 95 percent of Indian companies plan to maintain or increase their spending on digital transformation in 2023, and the total spend is projected to reach $85 billion by 2026. With Orion's acquisition of Sryas, its presence in India, particularly in the data and analytics space and telecom sector, is expected to further strengthen.

Sryas adds more than 550 associates to Orion, including engineers in India, Canada, Mexico, and the Philippines, resulting in a combined team of approximately 7,000 associates and 12 major global delivery centers. As part of the transaction, Mr. Vish Ramesh, President & CEO, Sryas Inc, will join Orion's management team.

Commenting on the merger, Mr. Raj Patil, CEO & President, Orion Innovation, said, "Our combination with Sryas strengthens Orion's nearshore capabilities in the Americas and adds to our APAC resources, including Chennai, India. 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. 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," adds Ramesh.

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.

"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."

o3 Capital acted as the exclusive financial advisor to Sryas for the 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 approximately 7,000 associates helps Fortune 1000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in North America, Europe, India and Latin America, Orion serves clients across Hi-Tech, Telecom & Media, Sports & Entertainment, Professional Services, Financial Services, and Healthcare industries. For more information, visit www.orioninc.com.

About Sryas

Sryas is a global technology company specialized in data, advanced analytics, software development, application modernization, and systems integration.

Empowered by the collective expertise of global talent, and a network of Delivery Centers across North America, LATAM, and APAC, Sryas delivers powerful insights and business transformations at scale. Our diverse teams hyper-collaborate with ambitious Telecom and High-Tech organizations to help accelerate their data, product, and technology roadmaps. All backed by a proven 20-year track record of delivering on-time, on-budget, and consistently exceeding quality expectations.

In addition to original tech and data solutions, Analance™ by Sryas is an all-in-one, modular plug-and-play data platform that enables organizations to visualize and tap deeper into their most powerful insights, all while capturing smarter opportunities with unprecedented speed. Bring on change and fearless innovation. Learn more at www.sryas.com.

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