Version 1, a technology and digital transformation provider founded in Dublin has acquired Neueda, a Northern Ireland based digital services specialist for an undisclosed sum.
Together, the businesses will have almost 2,000 employees and more than 500 customers.
They project revenue of €200m in the next year, with operations in Ireland, the UK, Spain, and India.
Following the acquisition, the Neueda executive management team, including chief executive Paddy O’Hagan, will join the Version 1 team.
"This deal brings to Version 1 a highly-skilled and specialised technology team with deep expertise in digital transformation, data analytics, trading, cloud services and other key technical consultancy areas which will enable Version 1 to further accelerate our customers’ businesses with IT and enable the public sector to reach citizens more effectively with key services," said Tom O’Connor, CEO of Version 1.
Paddy O'Hagan, Neueda's chief executive, said they are delighted to sign the deal.
"The acquisition is excellent news for our customers, with Version 1 and Neueda combining our technical capability across our mutual customers in Northern Ireland to continue to deliver excellent customer experiences, while tapping into the breadth of Version 1 resources and services to solve a wider variety of IT challenges and transformations," he said.
This will be Version 1's twelfth acquisition to date.
It is the latest in an acquisitive streak, which saw Version 1 buy Singlepoint last year.
Earlier this month, Version 1 announced the creation of 180 new technology jobs in Northern Ireland, of which 120 will come through a new Assured Skills Academy being run by Belfast Met.
