Monmouth Junction-based IT firm acquires Vernalis

Orion, an IT business solutions firm based in Monmouth Junction, announced the acquisitions of New York-based Vernalis Group Inc. and India-based Vernalis Systems Private Ltd.Orion, an IT business solutions firm based in Monmouth Junction, announced the acquisitions of New York-based Vernalis Group Inc. and India-based Vernalis Systems Private Ltd.

Vernalis provides software and technology solutions to a variety of clients in the financial and professional athletics industries. With the acquisitions, Orion is further solidifying its presence in the professional services industry and is adding a new industry in global sports and entertainment.

“We are excited about the acquisition of Vernalis and the opportunities of our combined company,” Raj Patil, CEO of Orion, said in a statement. “Rarely do two firms bring such a similar customer engagement model to bear; and the resulting close partnerships that Vernalis has developed with its marquee customers will be a valuable addition to Orion’s existing list of customer partners.”

“The combination of Vernalis and Orion will enable both companies to become even more adept at providing its customers with world-class, innovative, scalable, high-performance, and value-added technology solutions,” Patil said in a statement.

Financial terms of the deal were not disclosed.

“Orion represents the ideal acquirer for Vernalis.  With its similar focus on developing meaningful partnership-oriented relationships with its customers via its efficient use of a global footprint like Vernalis, the two companies are naturally suited to work together,” Bala Chandra, founder and CEO of Vernalis, said in a statement. “Many thanks to the firm of Sett & Lucas, the exclusive sell side advisors for the transaction.”

“Vernalis and our customers are looking forward to the expanded scale and capabilities that the combination with Orion will provide, as this transaction represents a true win for Orion, Vernalis and our collective customer base,” Nate Hanafy, managing director, New York of Vernalis, said in a statement.