Version 1 scores €5m in IT consulting, outsourcing deals

10 May 2010

Irish IT consulting firm Version 1 has secured deals valued at in excess of €5m, including a claims management implementation for Irish Life & Permanent plc, the company said this morning.

The €5m worth of deals include a claims management implementation for Irish Life & Permanent plc, an application support and development contract for the Local Government Computer Services Board’s (LGCSB) two housing systems and a large infrastructure managed service for a leading insurance provider.

“(The year) 2009 was a tough year for all Irish businesses,” Version 1 managing director Justin Keatinge explained. “With most organisations faced with cost cutting, we saw significant growth in our Managed Services business as our customers outsourced some, or all, of their IT department in an effort to optimise costs, drive efficiencies and improve performance.

“We expanded our operations in Northern Ireland, grew our customer base to 190 organisations across the public and private sectors and secured a number of important wins.”

In recently filed accounts, Version 1 reports a turnover of €15.5m in 2009 and a strong balance sheet position, with net assets up by 13pc over 2008.

“Version 1 is looking forward to an even better year in 2010,” Keatinge continued.

“Our performance in the first quarter of this year has been excellent: net earnings are up 20pc on 2009 and we have won deals with 10 new customers. We are actively recruiting excellent IT professionals.

“We recently made eight permanent hires, we still have a number of open positions and we are launching our Graduate Recruitment Programme shortly,” says Keatinge.

Version 1 has been privately funded since its inception in 1996. The company’s major shareholders are founders Justin Keatinge, John Mullen and company director Tom O’Connor.

The Irish-owned and managed IT consulting and services organisation employs some 170 staff and delivers services in consulting, systems implementation and outsourced managed services.

By John Kennedy

Photo: Version 1 managing director Justin Keatinge

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years