Welltel acquires Novi for €3m
6 July 2020 | 0
End-to-end communications provider Welltel today has acquired Kildare-based IT service provider Novi in a deal worth €3 million.
The purchase is the latest in Welltel’s wider acquisition strategy for growth, which saw it acquire ICT provider Invisitech at the beginning of this year.
Welltel will retain Novi as a standalone brand in the interim. Adding Novi’s 15 employees, will bring the total headcount to 115 and its SME and enterprise customer base to more than 3,000.
Established in 1999, Novi has recently reported several consecutive years of significant revenue growth based on its ability to attract and retain high profile clients across a range of industries. Its customers include CarePlus Pharmacy, Flynn, Irish Funds, O’Brien’s Fine Foods and Expert Electrical.
Ross Murray, CEO, Welltel, said: “The Welltel and Novi teams share a very similar vision of enabling growth for businesses which made this acquisition a natural fit. We were deeply impressed with the strength of Novi’s client base and recurring revenue growth, as well as its proactive approach. Novi’s consistent revenue growth is founded on its ability to acquire and retain high profile customers.
George O’Dowd, managing director, Novi, said: “We’re excited to leverage the synergies between our two brands to provide mid-sized Irish businesses with a unique combination of managed IT, security and communications expertise.
“Simplicity will be the new watchword as customers can benefit from a single provider for IT and communications. Our united offering gives us a unique ability to facilitate today’s flexible working needs and make it easy for customers to manage their ICT. This is a critical capability as mid-sized businesses move away from traditional phone and IT systems and networks to offer the true mobility demanded by today’s employees.”