Saturday 20 January 2018

Irish tech company announces 365 new jobs in Dublin

Version 1 expects to have revenues of €100m this year. (stock photo)
Version 1 expects to have revenues of €100m this year. (stock photo)
Ellie Donnelly

Ellie Donnelly

Irish company Version 1 is to create 365 IT services jobs over the next three years at its base in Dublin.

The jobs will be in the areas of ERP, systems integration, cloud and data analytics.

Version 1 is aiming to fill 100 positions this year, from graduate level to senior management.

The company is also launching their 2018 Graduate Programme in May to hire 70 IT graduates, making it one of the largest IT graduate employers in Ireland.

"The announcement today of 365 new jobs is as a result of our growth over the past five years and our confidence in our ambitious growth plans over the next three years," CEO of Version 1 Tom O’Connor said.

Version 1 creates advanced software systems which aim to transform the way their clients do business and address the core challenges of their day-today operations.

Their business partners include Microsoft, Amazon and Oracle.

In describing the business, O’Connor said it is "the glue that holds the economy together, managing huge numbers of day-to-day interactions such as providing insurance quotes, handling EU payments to farmers and processing motor tax payments. We develop systems that allows these kinds of processes to happen quickly and accurately".

Speaking at the jobs announcement An Taoiseach Enda Kenny commended the ambition and drive of Version 1 who will create 365 jobs over the next three years here in Ireland.

"The jobs represent a vote of confidence in the strength of Ireland's business environment, our highly skilled workforce and our strong education system,” he said.

Mr Kenny went on to say that the Government aims to create 45,000 new jobs this year, "today's announcement contributes to that and I want to thank outgoing CEO Justin Keatinge and incoming CEO Tom O'Connor for their continued efforts and belief in Ireland", Mr Kenny said. 

The jobs announcement comes as Version 1 is currently expanding into the UK and Europe following rapid growth over the past five years.

Since 2014, the company has created close to 200 extra jobs in Dublin and doubled its workforce to over 850 employees in Ireland and the UK. Version 1 now has offices in Belfast, Dublin, Cork, Edinburgh, Birmingham, Manchester and London.

This year Version 1 will generate revenues of over €100m for the first time.

The company has expanded rapidly through organic and acquisitive growth since 2014, acquiring several large companies to expand its market share in the UK. It acquired the Rocela Group in January 2014, Patech in November 2014 and BMS Software in October 2016.

Version 1 is now embarking on its next phase of growth which will see it target more substantial acquisitions while also looking to the European market. The company intends to double again in size in the next five years.

It’s next phase of growth is driven by a recently announced €90m investment by London-based investment firm Volpi Capital, who specialise in partnering with ambitious management teams in growth companies to assist them to achieve and accelerate their international growth plans.

This will be Volpi’s first investment in an Irish company and its largest investment to date.

This investment will also see 40 senior managers become shareholders. Founders Justin Keatinge and John Mullen will remain as Board members with Tom O’Connor taking up the role of CEO.

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