Version 1

This article is about the company. For the wrestler, see Matt Hardy.

Version 1

Industry	Professional services Technology services [1]
Founded	1996
Headquarters	Dublin, 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]
Services	Management 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+
Website	www.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

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

1. "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. "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.