Version 1 snaps up two UK tech companies with more deals to come

Irish technology company Version 1 has signed deals to acquire two UK tech companies for an undisclosed sum.

The acquisitions of Automation Logic and Qubix are the 15th and 16th deals for the group and will bring its total size to more than 3,000 employees, doubling the company’s headcount from 2020 levels.

Automation Logic is a London-based cloud and dev ops specialist, helping clients to build the necessary teams and infrastructure for the digital economy. Founded in 2010, the company employs 160 people and partners with tech companies such as AWS and Microsoft. It’s clients include Britain’s Ministry of Justice, HM Revenue & Customs and Lloyds Banking Group. The Automation Logic deal is subject to clearance via Britain’s National Security and Investment Act 2021.

Enda Diggins, Version 1’s managing director of its UK digital, data and cloud practice, said the acquisition “deepens our digital, data and cloud expertise, providing more opportunities for our people to develop professionally, and to do what they love – work on interesting challenges with our customers”.

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Qubix will boost Version 1’s expertise in finance transformation. The 170-strong organisation has headquarters in London and a presence in the US, India, Australia and Slovenia. An Oracle partner, Qubix was founded in 1987.

As part of the deal, Qubix staff will integrate with Version 1′s team, with its chief executive Julian Owens and group director of strategy and growth Paul Johnston stepping down.

“We set out to find a partner who would complement our existing business and geographies and provide a good home for our staff in terms of a caring environment and great career opportunities. We believe Version 1 is that good home,” Mr Owens said.

“Qubix brings a strong record to Version 1 in driving business agility and transformation and will strengthen the company’s existing Oracle ERP capability as well as providing springboards to international expansion in the Americas and Asia Pacific.”

Version 1 is expected to announce further acquisitions this year.

Founded in 1996, Version 1 is a leading digital and cloud transformation partner to public and private sector customers across the UK and Ireland. The company said it has exceeded revenues of more than €255 million. Last year Partners Group acquired a majority stake in Version 1 in a deal that valued it at about €800 million.