The software division of indigenous Irish IT player Ergo is projecting annual revenues of €8.5m by March of next year and the company has dedicated an entirely new management team to head the division to reflect this growth.
The software division of Ergo was set up in 2002 and by the end of the first year had recorded revenues of €2.3m.
By the end of the last financial year in March 2006 the software division had grown its revenue base to €7m.
A spokesperson for the company told siliconrepublic.com that the company is projecting revenues will reach €10.5m by March 2008 and revenues of €14m by March 2009.
“The software division is among the fastest growing of Ergo’s four divisions and is one of the fastest-growing technology companies in Ireland.
“The new management team reflects Ergo’s focus on software services and how swiftly that business is growing.”
The new management team consists of chief executive John Purdy, financial director Mark Kenny, chief operations officer David Pollard, sales director Marc Murphy, project manager Wendy Meredith and Damian O’Suilleabhain who has taken up the position of chief technical officer.
Out of Ergo’s total workforce of 125 people, the software division employs 60 developers, consisting 48 full-time workers and 12 contractors.
Ergo counts as key clients Eircom, Bank of Scotland, AIB, Bank of Ireland Finance, Vodafone, Beaumont Hospital, Canada Life and Allianz.
Despite this, the company says it has found the Irish government market a tough nut to crack for indigenous firms.
“Indigenous firms are not getting a fair crack of the whip from government agencies and it can be hard to engage with them,” said Purdy.
“It’s a shame because we deliver affordable software solutions to a pre-agreed programme. We sign fixed-cost contracts and deliver on them. Government IT projects don’t always have that outcome,” Purdy said.
By John Kennedy