Home / M&A Activity / OAO Technology Acquired by Platinum Equity

OAO Technology Acquired by Platinum Equity

sidfuchs-211x300
Sid Fuchs, President and CEO of OAO Technology

OAO Technology Solutions, Inc. (OAOT) was acquired by Platinum Equity from an affiliate of J.F. Lehman & Company and the other stockholders of OAOT.  Terms of the deal were not disclosed.

“In the midst of a challenging worldwide economic climate, over the last three years OAOT has expanded its market share, enhanced its commercial IT services offerings, and significantly improved the company’s operational effectiveness, profitability and financial performance, ” said Sidney E. Fuchs, OAOT president and chief executive officer.

“This acquisition provides incredible momentum and creates a platform for rapid growth as we join the top-tier group of IT services companies in the Platinum Equity portfolio, ” he said.

OAOT focuses on applications outsourcing, data center and infrastructure management and staffing solutions.

Check Also

Former Symantec Exec Nico Popp Joins Forcepoint as Chief Product Officer

Nico Popp, former senior vice president for cloud and information protection at Symantec, has been named chief product officer of cybersecurity company Forcepoint.

Microsoft Gets Task Order Under DoD’s JEDI Cloud Contract

The Department of Defense has awarded a task order worth $1M to Microsoft (Nasdaq: MSFT) under the potential 10-year Joint Enterprise Defense Infrastructure cloud computing contract.