Wicklow’s largest indigenously owned IT company VBT has acquired the financial and payroll applications clients of both Irish International Sales and Branigan Business Systems, bringing the total number of contracts managed by the company to 900. As a result the company is likely to double in size over the next two years.
Confidentiality clauses mean that details of the consideration cannot be given, however the aggregate amount came to a seven figure sum, paid through the VBT’s own resources, the company said in a statement this afternoon.
Based at its purpose built HQ in Kilmacanogue, Wicklow, VBT specialises in solving complex IT problems for MLEs (medium and larger enterprises). “Just a few years ago a company such as VBT would have been selling and installing a network of possibly two or three computers but now clients want us to integrate billing systems with a HR function along with stock control,” said director David Kerr.
Recently VBT has won major new contracts, worth in excess of €500,000 from companies including Barbeque Poultry, Beechfield Healthcare Products and Enterprise Sales Company.
Commenting on the latest seven-figure deals with Irish International Sales and Branigan Business Systems, Kerr said: “There’s quite a scramble at the moment within the ‘home grown’ sector of the IT industry with companies consolidating. Serious businesses are looking for larger IT services suppliers and the smaller companies being squeezed. Some companies may get badly caught in the rush to do deals – however we have spent a very long time doing due diligence on these two companies and we are happy that these purchases will help us achieve our aim of doubling our size in the next two years.”
He added: “Finding experienced support staff remains the biggest problem facing VBT at the moment. Currently VBT has a staff of 25 and because of the demand for our services we could immediately hire a further eight people if they had the appropriate skills.”
By John Kennedy