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Business & Economy

New North East tech firm Version 1 completes Evoco deal

A technology firm creating 200 jobs in a North East expansion has bought a fellow market operator as it seeks to maintain its growth.

Version 1 has bought service design and digital transformation operator Evoco Digital Services for an undisclosed sum.

The deal comes just days after Version 1 revealed plans to open a Newcastle office.

Bosses say Evoco will become part of Version 1’s UK digital, data and cloud practice, adding expertise in the public sector.

Evoco is led by directors John Dunnet, Chris Hewitt, Peter Stansbury, Steve Walton, and Enda McCormack, and under the terms of the acquisition, officials say its full 41-strong team has moved over to Version 1.

Tom O’Connor, Version 1 chief executive, said: “We are growing rapidly across the UK public sector, with customers such as Highways England, Ofgem, Ordnance Survey and the Home Office to name a few.

“And this latest acquisition further consolidates our position as a market-leader in delivering digital transformation across the UK public sector and further afield.

“Together, we can provide excellent services and solutions across the full spectrum of digital transformation.”

Speaking from an Evoco perspective, John added: “The team is delighted to be joining Version 1, an organisation that shares the same values as we do, including our relentless focus on impactful customer outcomes and excellence in delivery.

“We see the acquisition as being hugely positive in enabling our growth ambitions, helping to accelerate digital transformation in the UK public sector market and bringing our specialist service design expertise to Version 1’s existing customers.”