Dublin-based IT solutions company Nostra has successfully acquired Cork-based managed service provider Compunet as part of its strategic growth plan. The financial details of the acquisition, Nostra’s fourth this year, were not disclosed.
Nostra, established in 2006, specializes in IT support, cloud computing, cybersecurity, and various other tech solutions. The recent acquisition is in line with Nostra’s ambitious goal to boost its annual revenue from €50 million to €250 million over the next five years.
Compunet, founded in 1987, has a focus on serving SMEs, multinational corporations, and educational institutions. The company has experienced growth through previous acquisitions, including TSG’s MSP division in 2017 and KD Systems in 2021. Compunet’s expertise lies in being an IT service provider, a Microsoft Gold Partner, and offering cloud solutions.
The leadership of Compunet, including co-managers Tony Healy and Jason Burns, will remain intact, ensuring a smooth transition and continuity in operations. Nostra aims to leverage Compunet’s market presence to contribute to the growth of the Cork region, which is evolving as a European technology hub.
Kevin O’Loughlin, Co-founder & CEO of Nostra, expressed enthusiasm about the acquisition and the company’s overall growth strategy. He highlighted Nostra’s achievements this year, including the opening of a new office in Galway, significant investment, and completion of four acquisitions, including Compunet. The strategic move aligns with Nostra’s commitment to providing comprehensive IT solutions and expanding its footprint in the rapidly evolving technology landscape.