Chicago-based technology solutions provider Saggezza has acquired Milwaukee-based IT consulting, talent, and software development firm Omni Resources through auction.
In February 2019, Omni entered into receivership proceedings and on March 14 the Milwaukee County Court approved the sale of certain company assets. The following day, Saggezza made a winning bid to acquire those assets, the Milwaukee Business News reports.
Financial terms were not disclosed. Most of Omni’ 35 employees will remain on board along with approximately 90 percent of its assets, the Milwaukee Business News also reports.
Omni provides Midwestern companies with technical staff and expertise. Commenting on the deal, Saggezza CEO Arvind Kapur said:
“Omni has strong roots in the Wisconsin area, and they’re the perfect partner for us. With this expansion, Omni and its customers will benefit from Saggezza’s strategic leadership and global experience, all while adding a whole new library of technical resources and skilled individuals to our team.”
Omni will continue to serve its Wisconsin clients from its Milwaukee office as a Saggezza company, but with a new set of technical capabilities and access to the global market, the company said.
Omni CFO Brent Otto added:
“We’re excited to join forces with Saggezza. For 35 years, we’ve been dedicated to serving the Wisconsin community and that’s only going to continue. Our customers are going to be interacting with the same friendly faces they’ve been working with for years, but now they’re going to have the tools, global insights and technical leadership of Saggezza behind us.”
Saggezza offers global management consulting and technology services. With the addition of Omni’s Milwaukee facility, the company will now have offices in the Midwest, Chicago, Santa Clara, and international offices in Bangalore, Chennai, London and Sunderland, UK.
Omni made headlines in 2013 when the U.S. Department of Labour sued the company’s former owners Veronica Mueller and her family over the 2008 sale of Omni Resources to an Employee Stock Ownership Plan. The government claimed the sale was for more than the stock’s fair market value, according to records.
Omni Resources was founded by Roger Mueller in 1984 and was not a party in that case.
