Business

New Version 1 acquisition

IRISH IT firm Version 1 has acquired Birmingham-based company Patech Solutions.

It is the company's fifth acquisition in a growth strategy which also included the significant ramping up of its Belfast operation.

That allowed the creation of 50 new jobs in the city.

The latest acquisition is due to Patech's "significant experience of the Oracle E-Business Suite product stack and associated technologies", Version 1 said.

Version 1 chief executive Justin Keatinge said: "With 65 staff, Patech has an enviable pool of E-business talent on which Version 1 can build. Similar to Version 1, Patech has a successful and very strong public sector record, a sector in which we are keen to grow, so it is an exciting opportunity for us."

Founder and CEO of Patech Solutions, Tony Bird added: "Version 1's acquisition of Patech is an exciting development for us and will enable us to provide a wider range of solutions and services to our existing clients.

"It will also help us to scale up our business rapid-

ly and to capture even more opportunities both within the Oracle E-business space and also the broader IT Services market."

Version 1 is an IT consulting and managed services company which has more than 600 staff across Ireland and Britain.

Following 35 per cent growth in 2014, Version 1 expects that it will achieve revenues in excess of €70 million (£55m) this year through a combination of acquisitions and organic growth.

Version 1 moved to new offices in Belfast's Gasworks last year with the promise of increasing employment in the city to 75 new jobs by 2017.

At the time, it said average salaries would be in excess of £57,000 while the expansion as supported £350,000 from Invest Northern Ireland.

PICTURE: Maxwell's

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