One of Northern Ireland’s most well-known digital services companies Neueda has been bought by a Dublin headquartered IT company for an undisclosed sum
The purchase by Version 1 – its 12 th acquisition to date - sees the firm build out its presence north of the border to create what it describes as the largest technology businesses in Northern Ireland with 2,000 employees, more than 500 customers and projects revenue of €200 million in the next year
Only last week it announced the creation of 188 jobs in Northern Ireland, around 120 of which will come through the new Assured Skills Academy run by Belfast Met.
The purchase is a tactical one for Version 1, giving it access to Neueda’s public and private sector customers, particular in capital markets where it works with companies including J.P.Morgan, Citi, Liberty I.T., Credit Suisse and Microsoft.
Neueda also brings scale to its digital and cloud business,” Version 1 CEO Tom O’Connor said.
“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,” he said.
“Neueda’s compatibility with Version 1 in terms of shared company values and a 19+ year track record of excellence in delivery combined with a deep commitment to its people (as evidenced by its Great Place to Work status) makes this an excellent match for Version 1. We are excited about the prospect of accelerating our growth ambitions as a combined entity, delivering real differences for our clients, and providing best-in-market career opportunities for the most talented technical minds.”
The purchase of Neueda is the latest in an acquisitive streak which saw Version 1 buy Singlepoint last year, a deal which was completed in 2020 during the global pandemic, with the seamless integration of the acquired business carried out remotely.
Neueda’s Chief Executive Officer Paddy O’Hagan welcomed the deal.
“We’re delighted to sign this deal which reflects very positively on the quality and commitment of the Neueda business and team,” he said. “ 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.”
