IT.ie expands with seven-figure Abacus Systems acquisition
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The two organisations will combine expertise to develop their offerings for customers.
Irish IT services company IT.ie has acquired Dublin-based Abacus Systems in a seven-figure deal.
Following the acquisition, IT.ie has said it expects revenue to exceed a previous target of €8m to reach €10m by the end of 2025. Additionally, as 11 employees join from Abacus, IT.ie will have a team of more than 50.
IT.ie was established in 2004 by Eamon Gallagher and is headquartered in Dublin, with offices in Galway and Cork also. The company offers a range of managed IT services and technology software to businesses across Ireland.
Founded in 1992 by Derek O’Callaghan, Abacus Systems is a provider of IT services and a partner to a number of corporations, public sector organisations, healthcare services and SMEs across Ireland. The acquisition, which was self-funded by IT.ie, will enable the organisation to offer a wider range of services and support to companies across the region.
Commenting on the news, Gallagher, the managing director of IT.ie said, “The acquisition of Abacus Systems marks a key moment in our success and is another milestone in our journey to becoming a leading force in the managed IT services space.
“The acquisition unites two companies built with the same core values. For us, the partnership goes beyond growth and is an opportunity to learn from one another and build on our existing expertise together.”
O’Callaghan, the managing director of the Abacus Division, added, “This acquisition isn’t just great news for our business, but also our customers. Regardless of size, every business needs to be a resilient, digital enterprise and we are proud to have joined forces with IT.ie to work as one team in delivering this for a combined customer base.
“In terms of services and our cultures, we complement each other and are excited to be on this journey together. IT is becoming more complex and that is likely to see more pooling of resources of this kind. The IT industry is consolidating and getting stronger, and we are bringing that strength to our customers.”
Early last year, IT.ie announced it would be creating 30 new jobs across Dublin, Galway and Cork, to be filled by 2027, with positions in the areas of cybersecurity, business development, helpdesk support and sales.
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