TECHNOLOGY and digital transformation provider Version 1, which employs more than 500 people at its Belfast base, has bought out Scottish data and business intelligence firm Instinctive BI in what is its 14th acquisition in recent years.
Founded in Edinburgh in 2016 and with a team of 60 consultants, Instinctive BI has long-standing relationships with customers across the UK’s public and private sectors, generating multi-million-pound revenues through the delivery of solutions and resources to solve data change challenges.
The enlarged Version 1 and Instinctive BI entity will now have 2,800 employees, more than 550 customers and revenues of more than £200 million in the next year.
And the acquisition is expected to help Version 1 to meet ambitious growth plans, particularly with customers seeking to leverage data to enhance their business intelligence capabilities.
It comes after confirmation in April that global private markets firm Partners Group would acquire a majority stake in Version 1 and become a key partner in its next phase of growth.
Version 1 chief executive Tom O’Connor said: “This acquisition adds a highly skilled and specialised technology team with deep expertise in business intelligence, data solutions and other key digital transformation consultancy areas which will enable us to further advance our customers’ mission-critical transformation programmes and strategic objectives.
“From ensuring 24/7 security and compliance for top-tier investment banks to delivering next-generation digital platforms for leading insurance providers, our people are at the forefront of delivering real differences through technology.
“We look forward to joining forces with our new colleagues from Instinctive BI to accelerate our growth ambitions as a combined entity, delivering tangible business benefits for our clients, and providing unparalleled career opportunities for the most talented technologists across the UK, Ireland, Spain, and India.”
Becoming part of Version 1 will be Instinctive BI's C-Suite managers Nicholas McFadden, Kelly Scanlon and Stephen Henry, who will focus on bringing technology leadership to help grow the company's digital, data and cloud capabilities in the UK.
Instinctive BI chief executive Nicholas McFadden said: “We have seen no let-up in demand for our services for several years now, testament to the work that our team does for our clients every single day.
“In Version 1 we have found the right partner to support and accelerate our ambitious growth plans to meet this demand, help us meet our collective ambitions and strengthen the ways in which we are able to help existing and new clients deliver data-driven solutions that make a real difference to their customers and end-users.”
