IT company expects 50% turnover increase

AN Irish IT firm will create 80 jobs in Dublin over the next 18 months, while also increasing its turnover by 50% to €15 million.

Version 1, an IT consultancy and services company, plans to increase employment from 170 to 250 on the back of “a strong deals pipeline” and the creation of two new divisions, a business consulting division and an infrastructure consulting division.

Managing director Justin Keatinge said: “Over the past year and a half we have seen our workforce double from 80 people to 170.

“We had moved to larger premises in 2006 to accommodate this rapid growth and are about to open an extension to this premises.”

The company also expects turnover to increase by 50% by the end of the financial year. “In the first quarter of this year the company had a turnover of €3.5m and we expect a full year turnover of €15m,” said Mr Keatinge.

Version 1 has been privately funded since its inception. The company’s major shareholders are founders Justin Keatinge, John Mullen and company director Tom O’Connor.

“Over the past 12 months we have concentrated a lot on financial services where we have replicated our success in the public sector and have now established ourselves as a significant player in this area,” he said.