Nostra, an IT solutions company, has acquired Compunet, a managed service provider based in Cork. Financial details of the acquisition were not disclosed.
This is technology M&A deal number 316 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Nostra, founded 2006, is based in Dublin, Ireland. The company has 222 employees listed on LinkedIn. Nostra’s areas of expertise include IT Support, rapid response, virtualization, cloud computing, Office 365, hosted email, Sharepoint, online backup, hardware support, servers, hardware sales, migrations, disaster recovery, ICT Security, managed print services, site moves, project management, cybersecurity, security awareness training, Azure, and Microsoft.
Compunet, founded in 1987, is based in Cork, Ireland. The company has 17 employees listed on LinkedIn. Compunet’s areas of expertise include IT Service Provider, Microsoft Gold Partner, and Cloud Solutions.
This deal, the company's fourth acquisition of the year, is part of Nostra's plan to increase its annual revenue from €50 million to €250 million within the next five years.
Nostra's recent acquisition aligns with its growth strategy, bolstered by an investment from Phoenix Equity Partners. The company has also expanded its operations, opening a new centre of excellence in Galway and creating 100 jobs. Earlier in the year, Nostra acquired Passax Business Systems, Definitive Solutions, and Voice & Data Solutions.
Compunet's Market Position
Compunet, serving SME Multinational and Education customers, has grown through acquisitions, including TSGs MSP division in 2017 and KD Systems in 2021. Tony Healy and Jason Burns, co-managers of Compunet, will remain with the company, continuing their leadership roles in the combined business.
Leadership Commentary
Kevin O’Loughlin, Co-founder & CEO of Nostra, stated:
"This year, Nostra has achieved growth through investment, opening a new office in Galway, and completing our fourth acquisition with Compunet. With Cork's development as a European hub, we aim to contribute to the region's growth. We are eager to work with Tony and Jason and their team as we integrate Compunet into Nostra."
Nostra’s M&A Game
Nostra has been pursuing rapid growth through acquisitions this year. Previous deals include Enclave in November 2023, and Passax Business Systems in April 2023.
