P2V purchase gives Actionpoint a passport to new markets
Limerick tech firm buys Antrim-based rival in deal that will boost turnover to €20m
Actionpoint’s clients include the Department of Foreign Affairs, for whom it built the Republic’s passport renewal system. Photograph: Bryan O’Brien/The Irish Times
Actionpoint, the technology company that built the Republic’s passport renewal system, has bought rival P2V in a move that will boost turnover by a third to €20 million.
Limerick-based Actionpoint manages technology services for other businesses and designs custom-made software for clients, which include the Department of Foreign Affairs.
The company has taken over Lisburn, Co Antrim-based technology management services specialist P2V, in a deal likely to increase the size of both businesses.
Actionpoint said it would have a combined turnover of €20 million at the end of its financial year as a result of the deal. The Limerick company’s current revenues are €15 million a year.
We are thrilled to announce the formation of 20 new jobs over the next two years
The group expects to employ more than 100 people and plans to hire 20 extra staff in Lisburn, mainly in sales and information technology, following the takeover.
P2V works in information technology services. Its chief executive and founder, Stephen McCann, said that the company looked forward to expanding into developing custom-built software for clients following the Actionpoint deal.
“We are thrilled to announce the formation of 20 new jobs over the next two years as a result of our continued expansion,” he added. Mr McCann will be chief technology officer of the expanded business.
David Jeffreys, Actionpoint’s chief executive and founder, predicted that the purchase of P2V would expand the company’s reach and bring it into new markets.
The move also positions Actionpoint to deal with any potential Brexit fallout as it gives the company bases on either side of the border.
The purchase means that it has a presence in the UK should any difficulties arise following the jurisdiction’s departure from the world’s biggest trading bloc in March.