Calligo, an IT services company backed by Investcorp, acquired IT services firm Itomic Voice & Data, based in the Republic of Ireland, for an undisclosed sum.
The deal is Calligo’s seventh acquisition in three years and follows its purchase of Dublin-based DC Networks in January, Investcorp said in a statement on Wednesday.
The transaction also helps the Bahrain-based asset management firm to increase its footprint within the technology sector - a key focus area for Investcorp amid the Covid-19 crisis.
Founded in 2012, Calligo is an end-to-end managed data service provider and offers its services to SMEs and other enterprises.
Investcorp Technology Partners, through Investcorp Technology Fund IV, backed Calligo in 2016 and has since invested more than $20 million (Dh73.45m) to help the company accelerate its product innovation and international expansion plans, both organically and through targetted acquisitions.
“We invested in Calligo because of its strong position in the attractive and growing data privacy and managed services market,” Gilbert Kamieniecky, managing director and head of Investcorp's private equity technology business, said.
He added that Investcorp and Calligo are working “to capitalise on the many organic and inorganic growth opportunities in the current environment".
Investcorp Technology Partners’ most recent investments include Avira, a multinational cybersecurity software solutions firm, Contentserv, a provider of product information management software, Ubisense, an enterprise software and sensor platform and Softgarden, a human resources software provider, among others.
“With the addition of Itomic Voice & Data, we are now one of the largest IT service providers in Ireland, with sizeable presence in both Cork and Dublin – Ireland’s two largest economic regions – and the capability to serve businesses throughout the country,” Julian Box, founder and chief executive of Calligo said.
“We focused our current expansion strategy on Ireland because of its growing number of innovative businesses developing new data-reliant tools and services.”
Since its inception in 1982, Investcorp has completed over 195 private equity deals in the US, Europe, Asia, and the Mena region. It has also carried out more than 800 commercial and residential real estate investments in the US and Europe, with a total transaction value of $61 billion.
Last month, it closed a new fund targeting Italian distressed debt with €340m (Dh1.37bn) in commitments as it continues to invest in Italy’s non-performing loans market.
Company%20profile
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5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
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Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
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Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
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Killing of Qassem Suleimani
