Last month Version 1 announced it has acquired the UK-based business operations of Northern European IT services company Tieto Corporation, which marked its first UK acquisition. This move followed previous acquisitions of Prose Software in 2006 and PM Centrix in 2010.

Aiming to be the first €1bn Irish IT Services company within the next 10 to 15 years, Version 1 currently employ more than 400 people across the UK and Ireland. Keatinge commented to say that Version 1 intends to continue to grow both organically and through acquisitions. “It will probably take us 10 years to be a €1bn player but we expect to achieve 30% growth year on year – half through acquisition and half organically.”

He went on to discuss the key challenge facing ambitious indigenous IT firms such as Version 1 is scarcity of, and competition for, technology talent. Keatinge acknowledged that Version 1’s size and maturity were factors in enabling it to take on 30 graduates and interns this year.“We’ve worked hard on our culture and making it a great place to work,” adding that competing with multinationals required a culture and value set that was different.

This story appeared in the printed version of The Sunday Times and online on Sunday, December 15, 2013
Journalist: John Kennedy