Version 1 to create up to 100 IT consultancy jobs

IT services firm Version 1 is to create up to 100 jobs in Ireland, following an €8 million investment by the BDO Development Capital fund.

The BDO Development Capital fund provides growth capital for established, mid-sized and profitable companies to assist them with accelerating their export-led growth plans.

The investment, which is the first by the fund, will enable Version 1’s further expansion into the UK and the creation of up to 100 additional IT consultancy jobs in Ireland.

Version 1 was founded in 1996 by Justin Keatinge and has a 500-strong workforce across the UK and Ireland.

The company has offices in Belfast, Dublin, Cork, Edinburgh, Manchester and London. It recently acquired two UK-based companies: the business operations of Tieto Corporation in November 2013 and Rocela Group in January of this year.

"Here is a successful Irish IT company, already growing rapidly in export markets, which as a result of today's investment will have access to more growth capital and expertise, enabling it grow faster and create more jobs in Ireland," Minister for Jobs, Enterprise and Innovation Richard Bruton said.

Sinead Heaney, founding director of the BDO Development Capital Fund said Version 1 is an excellent example of a growth focused Irish company, the type of company the fund was set up to support.