Northern Ireland IT firm Novosco sold in £70m deal to German firm
Northern Ireland Ireland IT company Novosco has been sold to a German business in a £70m deal.
Novosco is now part of CANCOM Group in Munich after the deal today.
The Belfast IT services provider was founded by entrepreneurs Patrick McAliskey and John Lennon.
It’s now being acquired by multi-national CANCOM as it seeks to expand in the UK and enter the Irish market.
Novosco currently employs around 300 people, mostly based in Belfast.
Customers include several large UK NHS Trusts and housing associations. It also has offices in Dublin and Daresbury, near Manchester.
CANCOM employs more than 3,500 people worldwide and has a market presence in Germany, Austria, Switzerland, Belgium, Slovakia, Great Britain and the USA.
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Patrick McAliskey and John Lennon of Novosco 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.”
Belfast Telegraph Digital