Digital Reach Group acquired – 20 new jobs to be created
Colm Grealy, CEO and founder of Digital Reach Group
App creation firm Digital Reach Group, headed by internet industry veteran Colm Grealy, has been acquired by Florida company Take 5 Solutions. 20 new jobs will be created to support the company’s business drive into the US.
Take 5, which is backed by New York-based private equity firm Kinderhook Industries, will work with DRG to offer clients in the US a range of mobile services including apps, mobile websites, location-based services, mobile couponing, QR codes and a host of mobile strategies.
In order to support expansion into the US market, the deal is expected to create 20 new high tech jobs in Ireland, adding to the 16 existing employees in DRG’s Dublin offices.
Backed from an early stage by private investment company Pageant Holdings, which has interests in a number of Irish and European businesses, Digital Reach Group (DRG) has had strong success in the Irish market to date winning significant deals with RTE, BBC, Communicorp and a range of other high profile companies.
From its new Florida offices the company will have access to a network of over 30 sales people who currently work with many of America’s Fortune 500 companies, including Disney, Citibank, Procter & Gamble and numerous insurance carriers.
DRG CEO Colm Grealy, who joins the board of directors of Take 5, said: “In January we’d set out on a strategy to expand through partnerships. We launched in the US at the CTIA Wireless Association Conference in March where initial contact was made with Take 5 that led to this deal.
“The synergies between both businesses are ideal. Combined, we are in an extremely strong position to offer complimentary services to companies in the US looking for highly targeted marketing solutions across multiple channels,” Grealy said.
DRG shareholders include the founders and management team, Pageant Holdings and Enterprise Ireland.
Innovative Irish companies
Congratulating DRG on its new expansion plans and the creation of 20 high quality jobs Minister for Jobs, Enterprise and Innovation, Richard Bruton TD said: “DRG is a strong example of the type of indigenous innovative company that the Government is targeting for growth.
“It is through the establishment and growth of companies like this that we will create the new jobs necessary for our economic recovery. I am determined that innovative Irish companies accessing and operating in major international markets have the necessary support to grow and expand their business,” Minister Bruton said.
Commenting on the rationale behind the acquisition, Dave Thornbury, CEO of Take 5, said that offering mobile solutions is a natural extension of his company’s multi-channel marketing services.
“DRG’s expertise in this area makes it the perfect fit. Not only has it shown to be ahead of the curve when it comes to mobile services, but, like Take 5, it is also very focused on driving results for customers,” Thornbury said.