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

Leonardo DRS

Leonardo DRS Secures $250M Army Tactical Terminal Replacement Contract

Leonardo DRS has been awarded a five-year, $250M contract to replace the U.S. Army's satellite communications terminals designed for tactical users. The contractor will help the Army replace the terminals that are set for decommissioning in fiscal year 2025, the Department of Defense said Wednesday.

Vicki Schmanske President Leidos Intell Group

Leidos Books Potential $960M CBP Software Dev’t BPA; Vicki Schmanske Quoted

Leidos (NYSE: LDOS) has received a potential five-year, $960M blanket purchase agreement to develop software to support the Customs and Border Protection’s traveler vetting procedures.