Version 1, a leading technology and digital transformation provider, has accelerated its growth strategy through the acquisition of Northern Ireland-based digital services specialist Neueda.
The acquisition represents Version 1’s twelfth acquisition and supports the company’s ambitious growth plans, particularly within capital markets, where Neueda has built significant expertise. The deal also creates one of Northern Ireland’s largest specialist technology businesses.
Founded in Belfast in 2002, Neueda has developed long-standing relationships across both public and private sector organisations. The company is particularly well known for its expertise in capital markets and has worked with organisations including:
- J.P. Morgan
- Citi
- Liberty IT
- Credit Suisse
- Microsoft
As organisations continue to accelerate digital transformation initiatives, the acquisition adds significant scale and capability to Version 1’s growing Digital and Cloud practice.
Neueda brings specialist expertise across:
- Digital Transformation
- Trading Technology
- Data Analytics
- Cloud Services
- KDB+
- Accelerated Delivery Platforms
Image caption: Version 1 CEO Tom O’Connor and Neueda CEO Paddy O’Hagan outside Neueda headquarters following the acquisition announcement.
Combined, Version 1 and Neueda employ almost 2,000 people, serve more than 500 customers and were projected to generate revenues of approximately €200 million in the following year, with operations spanning Ireland, the UK, Spain and India.
Following completion of the transaction, the Neueda executive leadership team, including CEO Paddy O’Hagan, joined Version 1 to support the continued growth of its Digital and Cloud Practice in Northern Ireland.
The acquisition followed Version 1’s announcement of at least 180 new technology jobs in Northern Ireland, including 120 roles supported through a new Assured Skills Academy delivered in partnership with Belfast Metropolitan College.
Tom O’Connor, CEO of Version 1, said:
“This deal brings to Version 1 a highly skilled and specialised technology team with deep expertise in Digital Transformation, Data Analytics, Trading Technology, Cloud Services and other key consultancy areas. These capabilities will enable Version 1 to further accelerate our customers’ digital transformation programmes and help public sector organisations deliver services more effectively to citizens.”
“Neueda’s compatibility with Version 1, from its shared values to its 19-year track record of delivery excellence and commitment to its people, makes this an excellent match. We are excited about the opportunity to accelerate our growth ambitions as a combined organisation, delivering real value to customers and providing exceptional career opportunities for technology professionals. Together, we will deliver market-leading Digital, Data and Cloud services through an expanded talent pool, enhanced intellectual property and a diversified customer base.”
Continuing an Ambitious Acquisition Strategy
The acquisition continued Version 1’s growth strategy and followed the successful integration of Singlepoint, acquired in 2020 during the global pandemic.
Despite the challenges presented by remote working, Version 1 successfully completed the integration of Singlepoint entirely remotely, demonstrating the organisation’s ability to scale and integrate acquired businesses effectively.
Paddy O’Hagan, CEO of Neueda, said:
“We’re delighted to sign this deal, which reflects positively on the quality and commitment of the Neueda team and business.
This acquisition is excellent news for our customers. Together, Version 1 and Neueda will combine our technical capabilities to continue delivering outstanding customer experiences while leveraging the breadth of Version 1’s resources and services to address a wider range of technology challenges and transformation programmes.”
