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  • Thursday, April 25, 2024

OAO Technology Acquired by Platinum Equity

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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.

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