Version 1 in deal for UK's Rocela Group

Monday 13 January 2014 18.28
Version 1 has bought Scottish IT consultancy Rocela Group in second major deal
Version 1 has bought Scottish IT consultancy Rocela Group in second major deal

Irish IT services company Version 1 has bought Scottish IT consultancy Rocela Group for an undisclosed sum.

The deal is Version 1's second UK acquisition in three months after it bought the UK business operations of Northern European IT services company Tieto Corporation in November. 

The company is in the process of a three year acquisition programme and now employs 500 people with 100 of these in the UK.

Rocela Group was stet up in 2001 by its CEO Martin Mutch and its commercial director Kenneth Wilson. It had revenues of £14m in 2012 and employs 75 people in Edinburgh and Knutsford, near Manchester.

It provides enterprise application consultancy services to many of the world's biggest banks, many FTSE 100 companies and European utility companies, as well as local governments in the UK.

"Version 1 and Rocela Group represents a great fit with high synergies in terms of growth and ambition, commitment to corporate values, staff engagement and customer satisfaction," commented the Irish company's chief executive Justin Keatinge. 

He said the deal is expected to benefit all its customers.