Irish tech firm Strencom acquires Storage Online

Irish technology firm Strencom has acquired Storage Online in a deal that will be worth up to €2 million in revenue for the connectivity and cloud-computing firm.

Storage Online offers disaster-recovery services, with local authorities and the Health Service Executive among its 43 customers in the State. The acquisition will bring the company’s expertise in managed data back-up and recovery-testing services to Strencom, as well as enhanced engineering capabilities.

Storage Online has five employees, who will move to Strencom, bringing the total number of employees to 30.

“Strencom were already selling our services, so the acquisition was a logical next step,” said Storage Online’s managing director Lewis McMahon.

Strencom said the deal would increase its turnover by €2 million over the next three years, with the market for disaster-recovery services expected to expand globally at an annual rate of more than 50 per cent over the next four years.

"The decision to acquire Storage Online made sense as its offering completely integrates with our services and what our customers need," said Strencom chief executive Tim Murphy. "It's the ideal time to offer these services, which are hugely complementary to our existing managed hosting and cloud business."