31 January 2023 News
Version 1, a leading digital transformation partner, is to acquire two major players in the UK technology space – Automation Logic and Qubix – for an undisclosed sum as part of its ambitious growth strategy for 2023 and beyond. The Automation Logic deal is subject to clearance by the National Security and Investment Act 2021.
Combined, Version 1, Automation Logic and Qubix will have over 3000 employees and more than 650 customers. This places Version 1 as the largest Irish-founded technology employer and comes after significant growth for the firm, doubling its headcount from 1500 in 2020 to 3000 in 2023.
Version 1 navigated headwinds and global talent challenges to surpass revenues of over €255 million in 2023.
Founded in 2010 in London, the Cloud and DevOps specialist Automation Logic is on a mission is to help its clients build the teams and infrastructure they need to thrive in the digital economy.
With over 160 employees, Automation Logic partners with technology giants such as AWS and Microsoft to enable the organisation to offer a diverse range of cloud solutions to customers including the Ministry of Justice, HM Revenue & Customs and Lloyds Banking Group.
Enda Diggins, Managing Director of Version 1’s UK Digital, Data and Cloud practice, commented on the significant benefits Automation Logic will bring to Version 1’s customers:
“Version 1 and Automation Logic are combining to create one of the strongest cloud transformation capabilities in the UK. As award-winning partners to market-leading cloud providers, our customers will benefit from our increased depth and breadth of expertise in Amazon Web Services, Microsoft Azure, DevOps and Platform Engineering. This acquisition deepens our Digital, Data and Cloud expertise, providing more opportunities for our people to develop professionally, and to do what they love – work on interesting challenges with our customers.”
Norm Russell and Kris Saxton, Automation Logic Co-Founders, also commented on the positive news:
“We see Version 1 as an organisation that shares the same values as Automation Logic and has maintained a culture very similar to our own. This alignment of our cultures and our combined expertise will catalyse our shared mission, greatly benefiting our clients as we jointly expand our Digital, Cloud and DevOps solutions. This acquisition also presents a great opportunity for Automation Logic's employees, dramatically increasing the number and variety of interesting challenges that our people love to solve.”
Version 1 has also acquired finance transformation experts Qubix, a 170-person organisation founded in 1987, that operates out of its headquarters in London with presence in the USA, India, Australia, and Slovenia.
Colm Gillard, Managing Director of Version 1’s Oracle Practice, commented warmly on Qubix joining forces with Version 1:
“As an award-winning global Oracle partner of the highest level of accreditation, 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. 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 it’s Qubix’ demonstrated dedication to excellence in addition to the empathy shown to its people and its customers that further reassured to Version 1 that this would be a very positive partnership.”
Following the acquisition, the Qubix team will integrate with Version 1’s team. 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 and are eager to embark on the next phase of growth for Qubix as part of the Version 1 family.
Qubix CEO Julian Owens commented:
“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. 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.
The acquisition of Automation Logic and Qubix brings Version 1’s total of acquired businesses to 16, and this number is expected to grow significantly throughout 2023.
This news follows leading global private markets firm Partners Group acquiring the majority stake in Version 1 in 2022 to become a key partner in Version 1's next phase of growth.
Enda Diggins, Managing Director of Version 1’s UK Digital, Data and Cloud practice