Version 1 acquires Dublin-headquartered data analytics firm Presidion as part of expansion
IT service provider Version 1 has acquired data analytics specialist Presidion as part of the firm's growth strategy.
Following a €90m investment from London based investment firm Volpi Capital in April of last year, Version 1 have accelerated their international expansion plans.
The acquisition of Dublin-headquarted Presidion is its ninth acquisition completed by Version 1, and the second this year following the acquisition of London based HR Transformation Specialist Cedar Consulting in June.
Established over 20 years ago, Presidion services over 500 accounts and thousands of customers in the UK and Ireland, helping firms to make more accurate evidence-based decisions.
The company will form part of Version 1’s digital services practice and will continue to trade as Presidion in Ireland and the UK.
Presidion CEO Pierre Baviera will help oversee the successful integration of the two companies.
"Version 1 recognises the importance of investment in employee development, a priority shared with Presidion. We see the acquisition as being hugely positive in enabling our growth ambitions, helping to accelerate innovation in the expert analytics space and bringing Advanced Data Analytics expertise to Version 1’s existing customers," he said.
Version 1 currently employs 1200 employees at offices across the UK and Ireland and has a strong acquisitions pipeline into 2019, projecting year-end 2018 revenues at €120m.
CEO of Version 1, Tom O’Connor said the most recent acquisition "further consolidates our position as a market-leader in digital services in the UK and Ireland".
"Together we can provide excellent services and solutions across the full spectrum of digital services and advanced data analytics. We are excited about the opportunity to help customers build a competitive advantage and achieve significant business benefits."