GRAND RAPIDS — In order to meet growing demand for client collaboration, one of the state’s most recognized technology firms, OST (Open Systems Technologies), has expanded its Grand Rapids headquarters with 5,000 square feet of new office space and the addition of 10 new developers.
To celebrate, the firm, along with Grand Rapids Mayor George Heartwell, will hold a ribbon cutting ceremony at 11:30 a.m. on Wednesday, April 17 at the firm’s offices in the historic Drueke Game Building (605 Seward Ave. NW) on the west side of Grand Rapids.
Prior to this expansion, OST’s Application Development Practice was already recognized as the largest application development team in West Michigan with annual revenues of $8 million. With the expanded space, OST will add 10 new developers, bringing its app dev team roster to 60 professionals.
With the new expansion, OST now occupies 20,000 square feet on three floors of the Drueke building. The building also has a 3,000-square-foot rooftop deck.
As a firm, OST now has 114 employees at its four offices and employees 60 full time contractors. The firm had revenues of $80 million in its most recent fiscal year, which ended March 31.
Growth has been rapid in recent years — the firm employed just 49 people as recently as 2010.
OST’s other offices are in Ann Arbor, Minneapolis and London, England.
Since 2003, the company has grown it revenue at a compounded rate of over 30 percent annually. In 2007, 2008, 2009 2010, 2011, and 2012 OST was recognized in Inc. magazine’s 5,000’s Fastest Growing Private Companies. OST was also listed on CRN’s Tech Elite 250 in 2010 and 2011, and CRN’s FastGrowth100 in 2007, 2008 and 2009 and on the Michigan 50 Companies to Watch in 2009.