IT service provider Version 1 has acquired UK-based Farsight Consulting.
The transaction adds roughly £17.2 million in extra revenue and 133 employees to Version 1’s team.
Farsight is adept at executing digital transformation initiatives for public sector entities.
This acquisition enhances a pre-existing collaboration between the two firms, having partnered on several government projects.
Version 1 said it wants to bolster its value proposition to its clientele and prospects within the public sector.
The MSP notes that Farsight contributes a skill set that complements and enhances the company’s expertise in analysis, research, problem-solving, and user-focused design.
The firm anticipates that this proficiency will enable it to design, develop, and revolutionise digital services, even in the most complex scenarios.
Version 1 MD of digital, data, and cloud Enda Diggins said: “Version 1’s success hinges on a strategy known as Strength in Balance, which emphasises a balanced focus and equal importance on empowered individuals, customer priority, and a robust organisation.”
“This is underpinned by values that are more than mere words; they are principles that all our staff embody. Farsight’s fundamental values and focus on people align perfectly with this, ensuring our customer value proposition is powered by a strong human-centric approach.
“Version 1 has a dedicated integration team diligently working to guarantee a seamless transition and integration. This marks the 17th acquisition for Version 1, evidencing our proficiency in integrating and welcoming companies in a manner that minimally impacts our customers and honours new team members.”
Diggins said Farsight’s annual revenue from April 2023 to March 2024 was £15 million, and it served clients like the Ministry of Justice and the Department for Education.
“Version 1’s revenue from January to December 2023 was £296.1 million. The acquisition presents a desirable proposition for customers, especially considering the successful projects already completed by both firms, independently or jointly, such as those for Companies House and the MoJ,” he said.
Farsight founder and chairman Pete Masters expressed enthusiasm about the merger: “We’re thrilled to be part of Version 1. We share a common ethos and ambitions, and Version 1 has shown a parallel dedication to people development and delivering top-tier services to clients.
“Our joint efforts will expedite our mission, which has always been to tackle complex challenges in ways that genuinely benefit users and society. We’re proud of our accomplishments to date, and by merging our strengths, we believe we can achieve even greater success together.”
