17 Jun 2020
Investcorp, a leading global provider and manager of alternative investment products, today announced that its portfolio company Calligo Limited (“Calligo”), the world’s first end-to-end managed data services provider, has acquired Itomic Voice & Data Ltd. (“Itomic”). Itomic is a Cork and Dublin-based IT managed services provider, specializing in IT solutions and maintenance and managed Microsoft 365 and Azure services.
Founded in 2012, Jersey-based Calligo puts data and its privacy at the heart of a tailored collection of managed data services for SMEs and enterprises, including IT managed services, managed cloud services, data privacy services and privacy-by-design machine learning services. Investcorp Technology Partners via Investcorp Technology Fund IV backed Calligo in 2016 and has invested more than US $20 million into the company since then to help accelerate its product innovation and international expansion plans, both organically and through targeted acquisitions. Calligo’s purchase of Itomic represents its seventh international managed service provider acquisition in the past three years and follows its most recent acquisition of Dublin-based DC Networks in January of 2020. These two acquisitions combine to make Calligo one of the largest IT managed service providers in Ireland, further strengthening the firm’s global footprint.
Gilbert Kamieniecky, Managing Director and Head of Investcorp’s Private Equity Technology business, said: “We invested in Calligo because of its strong position in the attractive and growing data privacy and managed services market. We are pleased with how the talented team at Calligo has established the company as one of the global leaders in managed services, even forging a new area in privacy-focused managed data services, with a successful history of acquiring and integrating complementary businesses. We look forward to continuing to work together seeking to capitalize on the many organic and inorganic growth opportunities in the current environment.”
Julian Box, Founder and CEO of Calligo, added: “With the addition of Itomic Voice & Data, we are now one of the largest IT service providers in Ireland, with sizeable presence in both Cork and Dublin – Ireland’s two largest economic regions – and the capability to serve businesses throughout the country. We focused our current expansion strategy on Ireland because of its growing number of innovative businesses developing new data-reliant tools and services. We believe Irish businesses stand to gain enormously from our services and expertise, particularly in international data privacy.”
Investcorp (through Investcorp Technology Partners) has established a market leading position of investing in lower mid-market technology companies with a specific focus on Software, Data / Analytics, Cyber Security and Fintech / Payments. Investcorp Technology Partners’ most recent investments include: Avira, a multinational cybersecurity software solutions firm; Contentserv, a provider of Product Information Management (“PIM”) software; Ubisense, an enterprise software and sensor platform; softgarden, a Human Resources software provider; Ageras, an online marketplace matching SMEs with professional service providers; and Impero, a provider of online student safety and classroom and network management software.