Cork IT specialist Nostra marks fifth acquisition in 12 months with purchase of Spectrum AV

Cork-based IT firm has embarked on plans to grow revenue to €250m within five years

Led by Managing Director, Denis Ryan, Spectrum AV specialises in audio-visual services, with clients including Pepsi, Lilly and Biomarin.

Cork IT services provider, Nostra, has acquired audio-visual firm, Spectrum AV for an undisclosed amount, marking its fifth purchase in the last 12 months. 

The IT specialist said its latest acquisition aligned with ambitions to increase annual revenue growth from €50m to €250m within five years, adding that it "puts Nostra further along its journey of building a full-stack Managed Service Provider (MSP)."

Led by Managing Director, Denis Ryan, Spectrum AV specialises in audio-visual services, with clients including Pepsi, Lilly and Biomarin. Mr Ryan and the Spectrum AV team will play "key roles" in Nostra as part of its AV division. 

"The addition of Spectrum AV to the Nostra network marks a significant step forward in our growth strategy," said Kevin O’Loughlin, CEO and Co-founder of Nostra.

"We are delighted to welcome Denis and the talented team at Spectrum AV to Nostra and look forward to learning and growing together as we look to the future."

Founded in 2006 by Mr O'Loughlin, Gary Byrne and Senan Finucane, Nostra recently secured investment from Phoenix Equity Partners and opened a Centre of Excellence in Galway, creating 100 new jobs.

In November, Nostra acquired long-standing Cork IT Specialist, Compunet, as well as Passax Business Systems, Definitive Solutions, Voice & Data Solutions.

Speaking on the acquisition, Mr Ryan of Spectrum said, "My team and I are excited to build this new division within Nostra, leveraging our existing suite of skills to provide ease of access and technological excellence to companies across Ireland.”