Version 1 announced the acquisition of Rocela Group, a specialist enterprise applications consultancy with operations in Edinburgh and Knutsford, marking another significant step in the company’s UK expansion strategy.
Founded in 2001 by Martin Mutch and Kenneth Wilson, Rocela Group had built a strong reputation delivering enterprise application consultancy services to major organisations across the banking, utilities, public sector and FTSE 100 markets.
At the time of acquisition, Rocela Group:
- Generated annual revenues of approximately £14 million (€17 million)
- Employed 75 people
- Operated from offices in Edinburgh and Knutsford
- Served global banks, FTSE 100 companies, utilities and government organisations
Accelerating Growth Across the UK and Europe
The acquisition formed part of Version 1’s ambitious growth strategy and followed its acquisition of the UK business operations of Tieto Corporation in November 2013.
Following completion of the transaction:
- Version 1 employed approximately 500 people
- More than 100 employees were based in the UK
- Forecast revenues for FY2014 were approximately £52 million (€62 million)
The acquisition significantly strengthened Version 1’s capabilities in enterprise applications, consultancy services and software licence management.
Expanding Oracle and Microsoft Expertise
Commenting on the announcement, Justin Keatinge, CEO of Version 1, said:
“Version 1 and Rocela Group represent an excellent fit with strong synergies in terms of growth ambition, corporate values, employee engagement and customer satisfaction.
We expect this acquisition to benefit all our customers by bringing together consolidated expertise in Oracle and Microsoft Enterprise Application Consultancy and Licence Management, while establishing Version 1 as the go-to IT services provider for enterprise-scale organisations across Western Europe.”
The combined organisation strengthened its ability to deliver complex enterprise transformation programmes for large organisations operating mission-critical systems.
New Opportunities for Customers and Employees
Kenneth Wilson, Co-founder and Commercial Director of Rocela Group, welcomed the acquisition:
“This deal will accelerate Rocela Group’s growth ambitions and deliver greater breadth and depth of services to our customer base, while creating significant career development opportunities for our employees across new geographies, industries and customer environments.
We are very excited to be joining Version 1 and are confident of a successful integration and a strong future for all parties involved.”
The acquisition offered customers access to a broader portfolio of services while creating opportunities for employees across the expanded business.
Leadership and Integration
Following the acquisition:
- Justin Keatinge remained CEO of the combined organisation.
- Martin Mutch, CEO of Rocela Group, stepped down from his executive role and remained involved in a consultancy capacity to support integration activities.
- Kenneth Wilson joined the Version 1 Management Team.
- Rocela Group continued trading as Rocela Limited.
This approach provided continuity for customers while ensuring a smooth integration process.
Strengthening Version 1’s Position in Enterprise IT Services
The addition of Rocela Group reinforced Version 1’s position as one of the fastest-growing IT services organisations in Western Europe.
By combining expertise across Oracle, Microsoft, enterprise applications and software asset management, the acquisition enhanced Version 1’s ability to support large-scale digital transformation programmes for enterprise and public sector customers throughout the UK and Europe.
