DSP divests ERP Practice to Version 1
DSP today (3rd May 2016) announced it has sold its Oracle ERP practice to Dublin-based Version 1. Employees and customers of the divested business transferred to Version 1 on Friday April 29th. In 2015 DSP received external funds from a private investment group which were used to acquire FSR Change Management and expand its support infrastructure, and the proceeds from this sale will be similarly used to drive growth in its core market of Database Managed Services and Managed Cloud Solutions for Oracle and Microsoft technologies.
DSP is the UK’s leading and most established boutique provider of on-premise and in-cloud Database and Data Platform Managed Services, having pioneered the concept of remote DBA support in the mid-1990s. The Company prides itself on having a highly-skilled Oracle and Microsoft team that delivers innovative support, consultancy and managed cloud services to a wide range of mid-market and FTSE 100 clients, particularly those with mission-critical database architectures.
Version 1 is an Oracle Platinum Partner with €75m(£55m) revenues and 700 plus employees in offices across the UK and Ireland. The Company has previously completed five very successful acquisitions the most recent of which saw it acquire British Midlands based Oracle E-Business Suite specialist Patech Solutions in 2015.
Having completed the deal with Version 1, Simon Goodenough, Executive Chairman of DSP said,
“As part of our core strategy to be at the forefront of the UK’s Database Managed Service market, we are delighted to have found, in Version 1, a good home for our award winning Oracle ERP consulting practice and its clients. This de-merger allows us to rapidly increase the rate of investment in our Oracle and Microsoft SQL core technology managed services, as well as continue to innovate and develop our Oracle Cloud and Microsoft Azure solutions. Having acquired Oracle Support provider FSR Change Management last year we envisage further inorganic growth during 2016 as we strive to go the extra mile for our clients. These are certainly exciting times.”
Commenting on the announcement, Justin Keatinge, Chief Executive Officer of Version 1 said,
“Today’s announcement firmly establishes Version 1 as the market leader in UK & Ireland for Oracle ERP consulting, implementation and support services and consolidates our position as the Oracle partner of choice for leading UK and global brands. We are delighted to strengthen our ERP Practice through this acquisition welcoming a team of highly skilled Oracle ERP specialists and new customers in the travel & hospitality, retail, utilities, gaming & betting, financial services, professional services and software & high tech industries.”