Midwestern digital and IT consultancy OST has acquired Texas-based cloud service provider Stratum Technology for an undisclosed amount. FOCUS Investment Banking served as exclusive financial advisor to Stratum on this deal.
This is technology M&A deal number 77 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
The deal expands OST’s cloud services capabilities thanks to Stratum’s experience and certifications in both AWS and Microsoft, according to the company. Both organizations also share expertise in Microsoft Cloud for Healthcare.
Last year, OST acquired Minneapolis-based design firm, Azul Seven. The company continues to pursue acquisitions and partnerships.
OST Acquires Stratum Technology: Executive Insight
Meredith Bronk, president and CEO, OST, commented:
"For 25 years, OST has walked alongside clients to architect, build and manage how and where technology runs. The acquisition of Stratum Technology is a reflection of rapid acceleration in this space and ensures that OST continues to drive meaningful and valuable outcomes for our clients."
Ryan Trimberger, CEO and co-founder, Stratum, said:
"Stratum has been a market leader in cloud integration and managed services for the last six years. Our customers had an appetite for other services that were outside of our core business, and we found OST to be the perfect fit both technically and culturally for our employees and customers. This acquisition with OST is a strategic move to better serve our customers as demand grows for cloud, IoT, healthcare-focused cloud deployments and managed services."
Founded in 1997 in Grand Rapids, Michigan, OST started out delivering UNIX/NT environments designed to support commercial applications.
The company now has over 100 employees and three offices in addition to its headquarters, including Minneapolis, Minnesota; Detroit, Michigan and London, England.