Version 1

  1. Home
  2. Wiki
This article is about the company. For the wrestler, see Matt Hardy.

Version 1
IndustryProfessional services
Technology services[1]
Founded1996
HeadquartersDublin, Ireland
London, UK
New York, USA
Chicago, USA
Area served
Ireland
UK
North America
Key people
Roop Singh (CEO)
Brian Humphries (Chairman)
Andrew Langford (CFO)
[2]
ServicesManagement consulting, Managed services, Software development, Outsourcing[1]
Revenue€195 million (2021)[3]
Owner
  • independent (1996–2017)
  • Volpi Capital (2017–22)
  • Partners Group (2022–present)
Number of employees
3000+
Websitewww.version1.com

Version 1 is an Irish company specializing in international management consulting, software asset management, software development, cloud computing, and outsourcing.[1][4]

On 13 July 2022 Partners Group completed the acquisition of a majority stake in Version 1.[5]

History

[edit]

Version 1 was established in Dublin, Ireland in 1996 by Justin Keatinge and John Mullen.[6]

In the years leading up to 2011, Version 1 was named in the Deloitte Fast 50 list,[7][8] employed more than 150 consultants and had annual revenues of €17.5m.[9]

In 2014, the company opened its London office and expanded its Belfast office.[10][11][12] Version 1 acquired the UK-based Tieto Corporation,[13][14][15] and were recognized as one of the top 50 workplaces in Europe.[16] They went on to acquire UK-based Rocela Group[9][17] along with the UK-based Patech Solutions.[18][19][20][21][22][23][24] By year end, they had a total of eight international offices employing more than 500 consultants with annual revenues of €60m.[25]

In 2017, the UK equity firm Volpi Capital LLP became the majority shareholder in Version 1 in a deal that saw a €100 million buy out of the original founders and shareholders.[26] Shareholders included the Development Capital Fund, who invested c. €8m in 2014 and realized in excess of c. €20m on their investment. This buy out raised €90 million of expansion capital to allow Version 1 expand its operations in the UK and Europe.[27] On 24 April 2017, Tom O'Connor was appointed as Version 1 CEO after former CEO Justin Keatinge resigned. Keatinge stayed on Version 1's board and remains a major shareholder.

In 2018, Version 1 announced a €1 million investment into its Innovation Labs. The current areas of focus are: Blockchain, Internet of things, Chatbots, Machine learning, Virtual reality and Augmented reality.[28] In June 2018 Version 1 acquired the HR Transformation specialist Cedar Consulting Ltd.[29]

In 2019, Version 1 was presented alongside ICBF at Oracle OpenWorld, where a Blockchain Solution for the trace-ability of Irish Cattle and meat was discussed.[30] Version 1 also presented at Microsoft Future Decoded 2019, Microsoft's main UK event, with Roger Whitehead, Advisory Services Lead at Version 1 discussing the impact of Application Modernisation.

In 2022, Version 1 are nominated for "Employer of the Year" in the Women in IT Awards 2023.[31]

References

[edit]
  1. ^ a b c "About Version 1". Retrieved 7 May 2015.
  2. ^ "Version 1 Directors". Retrieved 7 May 2015.
  3. ^ "Top 1000 Version 1". The Irish Times. Retrieved 9 September 2015.
  4. ^ "About Version 1 – What we do". Version1.com. 18 December 2017.
  5. ^ "Version 1". Volpi Capital. Retrieved 17 December 2022.
  6. ^ "Version1 History". Version1.com.
  7. ^ "Deloitte Fast 50 Award Winners 2008". Retrieved 7 May 2015.
  8. ^ "Technology Fast 50 2022". Deloitte Ireland. Retrieved 19 March 2023.
  9. ^ a b "Keatinge's Version 1 looks to raise €20m". 19 January 2014. Retrieved 7 May 2015.
  10. ^ "IT firm Version 1 creating 50 jobs in Belfast expansion". BBC News. 25 September 2014. Retrieved 7 May 2015.
  11. ^ "Version 1 Expands Belfast Operation Creating 50 New Jobs". Retrieved 7 May 2015.
  12. ^ "IT company Version 1 creates 50 top-end jobs with average salary of £57,500". 25 September 2014. Retrieved 7 May 2015.
  13. ^ "Version 1 acquires UK operation of Tieto Corporation". 7 November 2013. Retrieved 7 May 2015.
  14. ^ "Version 1 buys UK-based IT firm – aims to become Ireland's first €1bn services player". Retrieved 7 May 2015.
  15. ^ "Company Overview of Tieto Corporation". Bloomberg News. Retrieved 7 May 2015.
  16. ^ "2013 BEST NATIONAL COMPANIES 50–500 Employees Category". Retrieved 7 May 2015.
  17. ^ "Rocela Group successfully acquired by Version 1". Retrieved 7 May 2015.
  18. ^ "Version 1 grows again with UK acquisition". The Irish Times. Retrieved 7 May 2015.
  19. ^ "IT firm Version-1 continues to branch out in UK". 12 January 2015. Retrieved 7 May 2015.
  20. ^ "New Version 1 acquisition". Retrieved 7 May 2015.
  21. ^ "Version 1's UK expansion continues with the acquisition of Patech Solutions". Retrieved 7 May 2015.
  22. ^ "Version 1 acquires Patech Solutions". 12 January 2015. Retrieved 7 May 2015.
  23. ^ "Version 1 buys Patech Solutions". Retrieved 7 May 2015.
  24. ^ "Version 1 Acquires Patech Solutions". Retrieved 7 May 2015.
  25. ^ "Business and Finance Tech 100" (PDF). Retrieved 7 May 2015.
  26. ^ "Tech firms on track to raise more than €1bn in record venture capital haul". The Irish Independent. Retrieved 30 November 2017.
  27. ^ "Clearwater International Advises Management buy Version 1 Backed Volpi Capital". Retrieved 18 December 2017.
  28. ^ "Innovation at Version 1". Retrieved 25 September 2019.
  29. ^ Taylor, Charlie. "Version 1 acquires Cedar Consulting to widen footprint in UK market". The Irish Times. Retrieved 18 March 2019.
  30. ^ "Our Technology Partners". Version 1. Retrieved 25 September 2019.
  31. ^ "WIT UK Awards 2023 | Bonhill PLC". WIT UK Awards 2023 | Bonhill PLC. Retrieved 3 November 2022.