A networking firm set up by a pair of former Moss Technology executives two years ago claims to be on course to double its turnover to €5m in only its second year of operation.
TechNiche reported a turnover of €2.4m in its financial year 2004 after securing 60 clients in 12 months. Its growth rate has since accelerated with the company claiming revenue of €2.2m for the first six months of 2005 and a customer base that stands at over 100.
“TechNiche is entering into another successful, profitable quarter having recently signed significant contracts, including a number in the government sector,” said sales director Gareth Madden. “This, along with follow-on business from existing customers, puts us on track to increase revenue by 100pc year on year. Apart from it being a great sign for us, it bodes well for the IT industry as a whole and points to Irish organisations’ ongoing requirement for high-level IT services.”
Attributing the success of the company to its high skill levels, Madden continued: “When we set up in 2003 we were fully aware that the demand for experienced, specialised networking providers was very strong. We hit the ground running and were fortunate that many clients from our days in Moss wanted to hold onto our expertise.”
Madden and Vincent Wynne, who both held director positions with Moss, established TechNiche in August 2003 following Moss’s takeover by Calyx, and subsequently wooed a number of key technical personnel from Moss to the start-up. The company has now 20 employees.
TechNiche is part-owned by Digital Communications Management (DCM) Group, the well-known network consultancy.
TechNiche’s core services include network design, implementation, integration, maintenance and support as well as security and back-up services. It operates a service and support centre in Dublin with an engineering and sales presence in Cork, which it plans to expand by the end of the year to build on its success in the south.
Commenting on the future strategy of the company, Madden said the company planned to extend its product portfolio to include security products to target the growing market for high-level security and back-up services in the financial services sector.
By Brian Skelly
Pictured are TechNiche founders Gareth Madden (left) and Vincent Wynne