Version 1 lands in Malaga TechPark after acquiring Neueda

Version 1 adquiere Neueda
After this operation, the Northern Irish consultancy plans to triple its workforce in the park to reach 100 workers in the first year.
Rogelio Velasco assures that TechPark “is a consolidated technological and innovative ecosystem and continues to advance with future projects.

Malaga TechPark continues to attract leading global companies in the technological world. The latest to join the park has been the multinational Version 1, leading in technology and digital transformation, which has acquired the Northern Irish consultancy Neueda, already installed for four years in the Malaga technopolis.

In this way, Version 1 accelerates its international expansion and increases its capacity to respond to customers growing need for digital transformation services and cloud integrations. In addition to scalability, Neueda brings its experience in software development for the financial services industry, data analysis, KDB + and cloud implementations to this operation. Moreover, Neueda, which has a workforce of 40 people in Malaga TechPark, plans to achieve one hundred workers at the end of this year.

The agreement between these two companies entails around 2,000 professionals, more than 500 clients, with an operational presence in Spain, Ireland, the United Kingdom and India, and 200 million euros turnover.

The Andalusian Minister of Economic, Rogelio Velasco, has valued the business operation as “a new example of the ability to attract innovative companies that Malaga TechPark has”. Velasco, who is the president of Málaga TechPark too, emphasizes that this place “is a consolidated technological and innovative ecosystem that advances with future projects”.

“From the Andalusian Ministry of Economic Transformation we will continue working to make this place a priority destination for national and international companies, helping to consolidate a technological and future Andalusia concept that will be capable of attracting investment and generating qualified employment”, Velasco has said. “Technology parks in our region are a first level asset to attract and generate companies that contribute to reactivate economic activity with their activity and innovation”, the head of Economic Transformation has pointed.

According to Gema Giles, Malaga site lead of Version 1, “the acquisition by Version 1 is very positive for Malaga, since its potential has been identified during the process. Thanks to this acquisition, as a first step, a strategic investment plan has been created that allows for the acceleration of organic growth through talent development and recruitment. Version 1 Malaga aims to go from 40 to 100 employees before the end of the first year ”.

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. “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 O’Hagan has said.

Version 1 has said 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. CEO of Version 1 Tom O’Connor has said that “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.”
Version 1 and Neueda share culture and values, in addition to more than 19 years of professional experience with a commitment dedicated to the well-being of its employees and strongly committed to the team and corporate culture, where people are the most important thing. Proof of this is the recognition with the distinctive “Great Place To Work”, which both companies receive year after year.

Version 1’s acquisition of Neueda is the latest in a series by the group. The previous one, the Singlepoint acquisition, took place during the pandemic and was done almost entirely remotely. With this, the aspiration of Version1 to be one of the great technological leaders is further strengthened.

Version 1

About Version 1

Founded in Dublin, Ireland. Version 1 has a staff of almost 2000 people spread across the UK, Ireland, Spain and India. With a solid foundation in the Irish public sector. In addition, Version 1 has been gaining market share in the United Kingdom public sector, joining its client portfolio with names such as Highways England, Her Majesty’s Courts and Tribunals Service (HMCTS), Ofgem, Home Office, Harrow Council, London Redbridge Council or Barts Health NHS Trust, to name a few.

Version 1 is associated with AWS Premier Partner, Microsoft Gold Partner, and Oracle Partner and works impartially advising customers who need to adapt quickly to technological changes.

Version1 has invested more than 1 million euros since 2018 in exploring and investigating the benefits of the latest cutting-edge technologies and proofs of concept in Blockchain, AI, Data Analytics, Machine Learning and Chatbots with its clients.