In a strategic move to expand its services and team, Nostra, an Irish IT services provider, has acquired Enclave, marking its fourth acquisition in the past five years. Financial terms of the deal were not disclosed.
This is technology M&A deal number 314 that ChannelE2E and MSSP Alert have covered so far in 2023. More than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 can be found 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.
Enclave, founded 2011, is also based in Ireland. The company has 16 employees listed on LinkedIn. Enclave’s areas of expertise include business software, IT outsourcing, CRM, network & infrastructure management, accounting software, software development, cloud IT, virtualization, disaster recovery, and managed IT.
Strategic Growth
This acquisition is a key part of Nostra’s growth strategy, aiming to strengthen its digital transformation and cybersecurity capabilities.
Following the acquisition, all of Enclave’s managed services and staff will be integrated into Nostra, with Enclave’s 20 employees joining Nostra’s team, Nostra said. Furthermore, Nostra has plans to create 10 new positions in business development, sales and marketing, and IT engineering, increasing its total headcount to 200 staff. Earlier this year, the company announced the hiring of 120 new roles across Dublin, Galway, and Laois.
Peter Hennessy, CEO of Enclave, will continue working with Nostra, focusing on further development and growth.
CEO Insights on the Acquisition
Kevin O’Loughlin, CEO, Nostra, commented:
"We were impressed with Enclave’s technical prowess, attention to detail, and client retention, which is testament to the company’s professionalism and premier service levels. It has been leading the charge for digital transformation and is a cybersecurity market leader, both key attributes which are a great fit for our growth strategy and prompted us to acquire the company."
He continued:
"Our customers are predominantly CEOs and business owners who don’t have the time to focus on IT systems and cybersecurity. The addition of Enclave will allow the company to expand its services and enable continued growth."
Future Growth and Developments
Nostra is on track to reach a turnover of €30m (approximately US$32.7m) by the end of 2022 and aims for €100m (US$109.1m) over the next five years through organic growth and further acquisitions. The company has recently invested in a new office in Parkwest and a rebranding project.
The acquisition was supported by Bank of Ireland, a key partner for Nostra since its inception 16 years ago. Nostra has provided outsourced IT services for more than 280 companies across 18 countries worldwide.
