Wellington IT Solutions is set to become the largest supplier of IT solutions to Irish credit unions following the acquisition of one of Octagon Computer Services.
The acquisition is part of an ongoing investment in the credit union market to provide software solutions and services aimed at the harmonisation of systems, processes and capabilities for credit unions throughout 150 credit unions servicing 1.2 million members with an asset base of around €6.5 billion.
Alex Dunne, director of Wellington IT Solutions, said: "It’s a very exciting time for both our companies and we are delighted to welcome Octagon into our organisation. The company has a strong pedigree and long history of service within the industry; and together we are Ireland’s leading supplier of software and services to credit unions. Together we will change the way credit unions work for everyone."
Established in 1983, Wellington IT Solutions began by producing computer software for the drinks industry. The company diversified into credit unions in 1990, suplying almost half of the top 50 credit unions in Ireland with a wide range of services, from text messaging to full EFT online and mobile banking facilities.
All of Octagon’s employees will be retained as part of the acquisition, and John Hudson, managing director of Octagon Computer Services will join Wellington IT Solutions as a consultant.
"With increased regulation and much higher compliance demands on credit unions today it makes sense for software suppliers to come together providing the highest level of service," said Hudson. "By joining Wellington IT Solutions we are providing our clients with the security of a company that has the same ethos around customer service as we have at Octagon."
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