Version 1 acquires Rocela Group
13 January 2014 | 0
IT services company Version 1 has acquired Edinburgh-headquartered consultancy Rocela Group for an undisclosed sum.
This is Version 1’s second UK acquisition in three months. In November 2013 it bought the business operations of Northern European IT Services Company Tieto Corporation in what was billed as the first stage of a three-year acquisition programme.
Version 1’s total employee numbers now stand at 500 (100 of which are based in the UK) with forecasted FY2014 revenues of EUR*62 million.
Rocela Group, a provider of enterprise application consultancy services for global banks, FTSE100 companies and pan-European utility organisations. It was established in 2001 na has annual revenues of £14 million (EUR*17 million) and employs 75 people in Edinburgh and Knutsford.
Commenting on the announcement, Justin Keatinge, chief executive officer, Version 1 said: “We expect this deal to benefit all our customers bringing consolidated expertise in Oracle and Microsoft enterprise application consultancy and licence Management and establishing us as the go-to IT service provider for Enterprise-scale organisations in Western Europe.”
Keatinge will head the combined entity, with Rocela Group CEO Martin Mutch stepping down from his position but remaining on in a consultancy capacity to help oversee the integration of the two companies. Rocela Group commercial director Kenneth Wilson has been appointed to the Version 1 management team. Rocela Group will continue to trade as Rocela Ltd.