L-R: Tom O'Connor (Version 1), Julian Owens (Qubix)
Irish founded digital transformation partner Version 1 has made a double acquisition in Qubix and Automation Logic.
The two deals mark significant growth for the firm, doubling its headcount from 1,500 in 2020 to 3,000 in 2023.
Version 1 navigated headwinds and global talent challenges to surpass revenues of over €255 million in 2023.
Marking its fifteenth and sixteenth deals, the latest acquisitions will see the Dublin-based company service more than 650 customers.
Oracle partner Qubix specialises in finance transformation. The 170-person organisation was founded in 1987 and operates out of its headquarters in London with a presence in the USA, India, Australia and Slovenia.
“Qubix brings to Version 1 over 25 years of specialist experience and expertise from over a thousand successful financial engagements across hundreds of customers’ projects,” Version 1 Oracle practice managing director Colm Gillard said.
“With deep expertise evidenced at every stage of their customer journeys, Qubix will place Version 1 in an increasingly favourable position with both new and long-standing customers alike, enabling Version 1 to drive further business agility and transformation within our customers’ businesses.
“There are many positive synergies between Version 1 and Qubix, but Qubix's demonstrated dedication to excellence in addition to the empathy shown to its people and its customers that further reassured Version 1 that this would be a very positive partnership.”
Qubix CEO Julian Owens and group director of strategy and growth Paul Johnston will be stepping down as part of this acquisition, while the rest of the Qubix management team will join Version 1.
“We set out to find a partner who would complement our existing business and geographies and provide a good home for our staff in terms of a caring environment and great career opportunities,” Owens said.
“We believe Version 1 is that good home. Qubix brings a strong record to Version 1 in driving business agility and transformation and will strengthen the company’s existing Oracle ERP capability as well as providing springboards to international expansion in the Americas and Asia Pacific.
“I believe this arrangement will be good for everyone, most importantly the employees and customers of both Qubix and Version 1.”
Founded in 2010 in London, cloud and DevOps specialist Automation Logic has more than 160 employees and partnerships with AWS and Microsoft. Some of its customers include the Ministry of Justice, HM Revenue & Customs and Lloyds Banking Group.
Financial terms of the deal haven’t been disclosed.
Last year, global private markets firm Partners Group bought a majority stake in Version 1 as it embarked on its next growth phase.
