Version 1’s avowed strategy to become a €1bn software and services giant continues with the news the company has acquired Birmingham-based company Patech Solutions for an undisclosed sum.
A key reason for the acquisition was Patech’s significant experience of the Oracle E-Business Suite product stack and associated technologies.
Patech has invested considerably in providing value added services that deliver to its clients.
The acquisition will see Version 1 strengthen its position as a leading Oracle partner in the UK and Ireland.
“Patech is a close fit with our aggressive acquisition criteria and strengthens our Public sector profile and our Oracle practice across Ireland & the UK,” explained Version 1 CEO Justin Keatinge.
Patech’s Tony Bird with Version 1’s Justin Keatinge
“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.”
Version 1 now employs over 600 people, including 150 in the UK.
Following 35pc growth in 2014 Version 1 expects that it will achieve revenues in excess of €70m this year through a combination of acquisitions and organic growth.
In 2013 Version 1 commenced an acquisitions strategy with the ambition of making the company Ireland’s first €1bn services company.
E-business image via Shutterstock