CreateFuture, an Edinburgh-based technology services firm, has been acquired by Irish group Version 1.
Founded in 1996 Version 1 is an AI-driven digital transformation company with more than 3,700 employees globally and revenues exceeding €400 million.
CreateFuture has 550 staff in the capital, Glasgow, Leeds, London and Sofia working with clients in highly-regulated industries, including iGaming, Financial Services and Utilities.
The acquisition, for an undisclosed sum, creates a combined organisation of 4,250 employees with annual revenues of more than €500 million, complementing Version 1’s private sector footprint and enhancing its AI-first capabilities.
Euan Andrews, founder of CreateFuture, said: “We started CreateFuture 16 years ago with a simple belief that the best work happens when great people are trusted to do great work for clients who care about the outcome.
“That belief has not changed, and this partnership accelerates our ambition for CreateFuture with a highly culturally aligned partner in Version 1.
“It enables us to better serve our clients with enhanced capability and scale whilst unlocking significant opportunities for our team members.
“I am genuinely excited about what this means for our people, for our clients, and for the next chapter of the business we have built together.”
In July 2022 Partners Group completed the acquisition of a majority stake in Version 1
Roop Singh, chief executive at Version 1, said: “This acquisition is a strong strategic fit for Version 1, strengthening our capabilities and expanding the markets we serve.
“CreateFuture is an exceptional business, with highcalibre talent, deep client relationships and sector expertise that directly complements our own.
They have built something genuinely impressive for clients, leveraging AIdriven capabilities with a flexible and agile approach, and have delivered sustained growth ahead of the market.
“This is a growth acquisition and reflects exactly where we are as a business, confident in our people, clear on our strategy and ready for what comes next.”
The CreateFuture leadership team will remain in place, continuing to lead its existing teams and client engagement. Completion of the acquisition remains subject to receipt of customary regulatory clearances.
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