IT service provider Orion Innovation on Monday announced it acquired Zodiac Systems, a New York-based video service delivery software company.
This latest acquisition marks the fifth in over a year for Orion, giving the company deeper capabilities in financial services and telecommunications, and a larger overall U.S. presence.
In April, Edison-based Orion announced it acquired Tekmark Global Solutions, an Edison-headquartered global technology services firm.
Zodiac provides advanced cloud and device software and engineering services for Tier 1 media and telecom operators globally. The firm brings deep video know-how, and its software adds significant proprietary Intellectual Property to Orion’s growing telecommunications and media capabilities.
Zodiac’s Matrix video API management cloud integration platform enables operators to seamlessly orchestrate service-by-service upgrades and migrations from legacy delivery permutations to today’s OTT video IP back-office delivery platforms. In addition, Zodiac’s Stack device software enables OTT apps, streaming services and monetization models to be delivered to new, existing, and deployed set-top and IP-only video devices. Founded in 2003, Zodiac’s software platform spans 20 million set-tops at Tier 1 carriers.
“Zodiac is a pioneer in the video service delivery space, with unique proprietary IP and deep engineering expertise to meet the increasing demand for next generation telecommunications and media services around the world,” said Raj Patil, chief executive officer of Orion.
As part of the transaction, Derek Harrar will continue as CEO of Zodiac and join Orion’s management team to lead the Media Division to scale ongoing digital transformation efforts in that space.
Orion and Zodiac are both portfolio companies of One Equity Partners. “Zodiac and Orion have complementary and deep skill sets that will benefit their respective client bases,” said Chip Schorr, senior managing director, One Equity Partners. “This latest acquisition continues Orion’s inorganic growth plan and deepens relationships with blue-chip media and communications clients.”=