Derek O’Callaghan (Managing Director of the Abacus Division, IT.ie), Eamon Gallagher (Founder and Managing Director, IT.ie), David McDonald (Sales Director, IT.ie), Eoghan Johnson (Business Development Director, IT.ie) and Stephen Mullin (Technical Director, IT.ie)
Abacus Systems acquired in seven-figure deal by IT.ie
GREENHILLS company Abacus Systems has been acquired by IT.ie in a seven-figure deal.
As a result, the Irish-managed IT services company IT.ie expects its revenues to reach €10 million by the end of the year, exceeding its previous target of €8m.
Furthermore, the IT.ie team is expected to grow to more than 50 people, with 11 additional staff members coming from Abacus.
Its customer base is also expected to grow by 50 per cent to more than 500 clients.
Established in 1992, Abacus Systems is a long-term technology solutions partner to corporates, public sector organisations, healthcare providers, and SMEs across Ireland.
Their work is in areas of managed services, cloud technologies, cybersecurity, and compliance with business goals.
The acquisition is a key milestone for IT.ie as it continues to strengthen its position in the managed IT services space.
Derek O’Callaghan, Managing Director of the Abacus Division, said: “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 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.”
Eamon Gallagher, Founder and 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.
‘It firmly strengthens our position within the market, allowing us to offer an even greater portfolio of services and deeper expertise to facilitate our growing customer base.”
