PlanNet21 acquires eCom as it aims for €100m revenue

20 Oct 2020494 Views

From left: Sean Martin, CEO of eCom, and Peter Carroll, CEO of PlanNet21. Image: PlanNet21

PlanNet21 has acquired professional and managed services business eCom Solutions, bringing its total headcount to 140.

Today (20 October), IT solutions business PlanNet21 announced that it has acquired eCom Solutions for an undisclosed sum.

The deal will bring PlanNet21’s total headcount to 140. The company, which was founded in 1998, has offices in Cork, Galway, Belfast and Edinburgh, with a headquarters in Dublin.

Dublin-based eCom was founded in 2000 by Sean Martin and Brendan O’Brien, and currently employs 40 people. The business offers professional and managed services, network solutions, collaboration services and specialises in network and security technology.

Following the deal, eCom will continue to operate as a standalone entity, while accessing a greater range of technologies that it can market to its enterprise and service provider customers.

Martin, who is CEO of eCom, commented: “PlanNet21 is very strong in collaboration and unified communications. We’ve carved out a very successful business based on cybersecurity and on-site design and implementation services. These complementary skillsets will benefit existing and new customers across all industry verticals.”

Aiming to reach €100m in revenue

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Commenting on the deal, PlanNet21 chief executive Peter Carroll added: “Quite apart from greater market penetration, this deal also gives us access to a team of high-calibre engineering staff and a wider portfolio of industry-proven services, particularly around cloud and managed security. Our customer bases are very complementary with little overlap and this positions us very favourably to achieve our ambitious growth forecasts into the future.”

PlanNet21 is now looking to make further acquisitions, and Carroll told the Irish Times that it is targeting revenues of €100m.

The company first announced its intention to reach the €100m revenue mark in 2017 when it merged with Agile Networks. At the time, Agile managing director Darragh Richardson told the Irish Times: “We think that’s achievable in a three-year period. When you add the two businesses together you start getting involved in much more material contracts.”

In terms of expansion, PlanNet21 also acquired the business assets of Scottish-based Hutchinson Networks in 2019.

According to the Irish Times, the company recorded turnover of €32m for the 12 months ending 30 September, with pre-tax profits of €5.5m.

Kelly Earley was a journalist with Siliconrepublic.com

editorial@siliconrepublic.com