Posted on Monday 14 October 2019 by John Mulgrew
Northern Ireland IT services firm Novosco has been bought by a German-based global industry giant for around £70m, it has emerged.
The Belfast-based cloud services firm, which was founded by Patrick McAliskey and John Lennon, is now part of the Munich-based CANCOM Group. The acquisition will see it expand further in the UK and Irish market.
Novosco has grown its headcount significantly at its Catalyst base, including taking another large chunk of space to make way for the creation of 150 new jobs, which were announced last year.
The growth follows a £107m contract with the Cambridge University Hospitals Trust.
Novosco currently employs around 300 people, mostly based in Belfast, and counts a wide range of public, private and voluntary sector organisations amongst its customers, including several large UK NHS Trusts and housing associations. It also has offices in Dublin and Daresbury, close to Manchester.
Mr Lennon will take over as joint managing director of CANCOM UK, while Patrick McAliskey, currently managing director, will continue to be a shareholder of and advisor to CANCOM UK.
Patrick McAliskey and John Lennon, said that the deal is a perfect fit for both companies. “This is a hugely positive and exciting development for Novosco, our people, our customers and the communities in which we operate, bringing together two companies with very complementary expertise and very similar cultures, ambitions and outlooks.”