Two principals from CPA firm Olsen Thielen announced that they have spun off the firm's IT consulting, software selection, solution integration, and managed services business into a separate company, OTT, Inc.
OTT will be co-owned by former Olsen Thielen executives Eric Sheehan and Dean Speidel, and will focus on delivering business process automation solutions to small and medium-sized organizations in the Upper Midwest. The 15-year-old business became independent on December 31, 2009.
"Moving forward as a stand-alone company enables us to expand our technical expertise, deliver more innovative solutions, and better respond to client needs and market demands," said Sheehan, now CEO of OTT, Inc. "We're looking forward to increasing our investments in technology, systems, and services, while maintaining our commitment to delivering value to our clients."
OTT's leaders, team members, and operations are unchanged. Sheehan and Speidel, who each have more than 15 years of experience with OTT, share ownership and now hold CEO and president titles, respectively. "For clients, employees and partners, it's business as usual," added Speidel. "While we are separate from the CPA firm, we will continue helping our clients meet their business goals by applying our business process knowledge, technology expertise, and deep understanding of their businesses."
IT consulting firms are often formed within CPA firms and later spun off successfully. Ron Eagle, president of the Information Technology Alliance (ITA), said, "Separating CPA and IT consulting firms typically works best for both firms and, most importantly, for the clients. CPA firms operate under different regulatory requirements as financial and tax advisors, so OTT's new organizational structure gives them the flexibility to best meet the needs of both existing and potential clients."
Ken Vohs, president of Olsen Thielen, added, "We're excited for Eric, Dean, and the OTT team. Creating an independent entity allows them to focus more on the unique requirements of a technology consulting business. We wish them continued success."