IT service provider Nostra has bought Cork based IT managed service provider Compunet.
Financial terms of the deal have not been disclosed.
The acquisition is Nostra's fourth so far this year, having previously purchased Passax Business Systems, Definitive Solutions and Voice & Data Solutions.
Nostra recently secured investment from Phoenix Equity Partners and opened a Centre of Excellence in Galway, creating 100 new jobs.
The company has ambitions to increase annual revenue growth from €50 million to €250 million within five years.
"Nostra's year has been marked by exceptional growth, featuring substantial investment, the launch of our cutting-edge Galway office, and now completing our fourth acquisition of 2023 with the purchase of Compunet," said Kevin O’Loughlin, Nostra co-founder & CEO
"With Cork's rapid development as a key European hub, we are excited to invest in and foster the region's innovative capacity and economic dynamism."
Tony Healy and Jason Burns, who completed a management buy-out of Compnet in 2010, are to remain with the combined business.
"We are looking forward to a strong partnership with the team at Nostra who have a very clear vision and ambition we are aligned with," they said.
"This will ensure we expand our service offerings, capabilities, and geographic reach to deliver an even stronger service to our customers."
Nostra was founded in 2006 and currently has 250 staff in offices in Ireland, UK, Bulgaria and South Africa.
