Evros Technology Group, a specialist in remote technical support and cloud services for client IT systems, has beefed up its cloud side with the acquisition of Inspired Software and Services. ISS has a strong niche in Microsoft Azure and Sharepoint services, and booked a net profit of €101,000 in 2014. Net worth was €127,000 in December 2014 as year-end debtors expanded from €225,000 to €373,000.
According to Evros, the Inspired SS acquisition will enable the group to offer an advanced Microsoft Cloud capability aimed at enterprise, government and education organisations.
The controlling shareholder in Inspired Software and Services is Will Connor, with a 75% stake. The balance of the equity is split between 12 other shareholders. Enterprise Ireland had invested €250,000 in redeemable preference equity.
Established in 2008, the company has grown to a team of 18 consultants with an annual turnover of €2m providing advanced Microsoft Cloud solutions for over 200 clients across enterprise, government and education including Vodafone, Maxol, Coillte and the Department of Education and Skills.
Connor will continue to lead the ISS practice, supported by director Keith McHale: “Since we were established, our goal has always been to help businesses across the UK and Ireland become more efficient by harnessing the power of Microsoft technologies," said Connor. "Supported by the Evros Group, Inspired SS will continue to deliver excellent service for its customers and grow into the future.”
In Association with
Evros Profits
Before establishing Inspire SS, Connor worked with Microsoft, AEP Networks and Oracle as well as a number of indigenous Irish companies including Mentec and Eurologic Systems. At Microsoft Connor had a business development role in the Dynamics team, focussing on enterprise resource planning applications for small to medium enterprises.
Turnover at Evros grew by 12% in 2014 to €35.4m, with the company reporting an operating profit of €1.9m. Operating company Hibernia Services Ltd had €3.6m cash at year-end and net worth was €4.3m. The main Evros office is in south Dublin, with other offices in Cork, Waterford and Sallins.
Established in 1990, Evros delivers remote technical support from its 60,000 square foot facility in Cherrywood. The company monitors and manages over 100,000 devices nationwide and delivers managed and private cloud platforms from Tier 3 datacentres in Dublin and London.
Headcount at Evros, formerly known as Hibernia Evros, increased from 98 to 123 through 2014, and in June 2015 Evros announced its intention to add 100 new staff, supported by taxpayer grants from Enterprise Ireland. The company says that the current staff complement is now 325 people.
Five Evros directors, led by managing director Brian Larkin, shared €606,000 in remuneration in 2014, and they also shared €680,000 in dividends. The other directors are Bob Murray, John Kennedy, Pamela Farrell and Caroline Godsil. Hugh Dawson joined the board of directors in February 2015.
