Neueda has been acquired by Version 1
Arrowpoint Advisory’s TMT team has advised Belfast-headquartered international technology firm Neueda on its sale to leading technology and digital transformation provider Version 1 to create one of the largest technology businesses in Northern Ireland.
Founded in Belfast in 2002, Neueda has long-standing relationships with customers across the public and private sectors. The company has particular niche sectoral expertise in Capital Markets, partnering with leading companies including J.P. Morgan, Citi and Credit Suisse.
Following the acquisition, the Neueda executive management team, including Chief Executive Officer Paddy O’Hagan, will join the Version 1 team, focusing on bringing technology leadership to grow its Digital and Cloud Practice in Northern Ireland.
The purchase enables Version 1 to further accelerate its growth in Northern Ireland and expand its global customer base in Capital Markets. The acquisition adds additional scale and capabilities to its rapidly growing Digital and Cloud business, with Neueda bringing expertise in Digital Transformation, Trading Technology, Data Analytics, Cloud Services, KDB+, and Accelerated Delivery Platforms.
Combined, the businesses will have almost 2000 employees, more than 500 customers, and project revenue of €200 million in the next year. Its operations are spread across Ireland, the UK, Spain, and India.
Paddy O’Hagan, CEO of Neueda said: “We’re delighted to sign this deal which reflects positively on the quality and commitment of the Neueda business and team. With Version 1 and Neueda combining our technical capability across our mutual customers in Northern Ireland, we can continue to deliver excellent customer experiences while tapping into the breadth of Version 1 resources and services to solve a wider variety of IT challenges and transformations.”
Paddy went on to add: “With deep knowledge of our market and clear articulation of Neueda’s value drivers, the Arrowpoint Advisory team delivered us a compelling outcome, from a very complementary partner. They were a pleasure to work with and we are delighted with the result.”
Tom O’Connor, CEO of Version 1 commented: “Neueda’s compatibility with Version 1 in terms of shared company values, a 19+ year track record of excellence in delivery, combined with a deep commitment to its people as evidenced by its Great Place to Work status made this an excellent match for Version 1. We are excited about the prospect of accelerating our growth ambitions as a combined entity, delivering real differences for our clients and providing best-in-market career opportunities for the most talented technical minds.”
Will Evans, Director at Arrowpoint Advisory, concluded: “We are delighted to have advised the Neueda team on their sale to Version 1. Brendan, Paddy and the team have built an exceptional business in a short space of time, which has become a clear leader in its field. The strategic and cultural fit with Version 1 is clear and we wish the wider team all the best on the next step of their journey.”