Version 1 Acquires Neueda

CURTAIN UP ON £12.2 MILLION GRAND OPERA HOUSE RESTORATION

Leading technology and digital transformation provider, Version 1, has accelerated its growth and added to its global customer base with the acquisition of Northern Ireland based digital services specialist, Neueda.

The purchase, for an undisclosed sum, is the twelfth for Version 1 to date and will help it meet ambitious growth plans, particularly in capital markets where the newly-acquired company Neueda specialises, and create one of the largest expert technology businesses in Northern Ireland.

Founded in Belfast in 2002, Neueda has long-standing relationships with customers across the public and private sectors. It has particular niche sectoral expertise in capital markets, partnering with leading companies including J.P. Morgan, Citi, Liberty I.T., Credit Suisse and Microsoft.

Version 1 said as its customers accelerate their digital transformation, the acquisition adds additional scale and capabilities to its rapidly growing Digital and Cloud business to meet this demand, with Neueda bringing expertise in Digital Transformation, Trading Technology, Data Analytics, Cloud Services, KDB+, and Accelerated Delivery Platforms.

Combined, the businesses will have almost 2000 employees, more than 500 customers and projects revenue of €200 million in the next year with operations in Ireland, the UK, Spain, and India.

Following the acquisition, the Neueda executive management team, including Chief Executive Officer Paddy O’Hagan, will join the Version 1 team, focusing on bringing technology leadership to grow its Digital and Cloud Practice in Northern Ireland.

It follows the announcement earlier this month of the creation of at least 180 new high-quality technology jobs by Version 1 in Northern Ireland, of which 120 will come through a new Assured Skills Academy being run by Belfast Met.

Neueda Chief Executive Officer, Paddy O’Hagan, and Version 1 CEO, Tom O’Connor.

The £12.2 million restoration and development of the Grand Opera House in Belfast has been completed, allowing the Grand Opera House Trust and its Chief Executive to plan for its full reopening in line with the recovery from the COVID-19 pandemic.

The results of the restoration project were recently unveiled and the theatre will reopen to the public with bookable theatre tours in July. These tours will precede the full reopening of the theatre for performances later in the year, subject to the COVID-19 public health guidance at that time.

The restoration project, which is supported by The National Lottery Heritage Fund, Department for Communities, Arts Council of Northern Ireland, Foyle Foundation, Garfield Weston Foundation and The Wolfson Foundation, has seen the auditorium’s paintings and decorative and ornate plasterwork painstakingly restored and conserved, as well as new seating, carpets, curtains and drapes installed. The design of the foyer and public spaces has been totally reimagined, with a new bar installed in the restored 1980 glass extension overhanging Great Victoria Street, as well as beautifully refurbished stalls and circle bars. As part of the project, the theatre’s technical infrastructure has been upgraded and a permanent heritage exhibition installed telling the fascinating story of the theatre’s 125-year history. Facilities for those customers with access needs have also been greatly enhanced throughout.

RoisÍn McDonough (Chief Executive. Arts Council of Northern Ireland), Ian Wilson (Chief Executive, Grand Opera House); Colin Loughran (Chairman Grand Opera House Trust) and Paul Mullan (Director, Northern Ireland, National Lottery Heritage Fund).

SONI COMPLETES BIGGEST EVER PUBLIC CONSULTATION

SONI’s Shaping Our Electricity Future consultation, which sought views on the future development of the electricity transmission grid, markets and the operation of the electricity transmission system has now closed.

Launched in March, the consultation is a direct response to the climate crisis and sets out ways the transmission system can be developed to facilitate at least 70% renewable electricity by 2030 – a target proposed by Department for the Economy in its Energy Strategy policy options paper.

SONI’s focus over the past three months has been to inform as many people as possible about the consultation so they could have their say. During that time, SONI engaged directly with hundreds of stakeholders across Northern Ireland.

Early analysis shared by SONI shows a number of emerging themes, including: • The role of micro-generation and the possibility of domestic customers generating their own electricity and exporting the surplus on to the distribution system • New and emerging technologies and their future role. These include hydro, nuclear, hydrogen, biomass and batteries • Power security and the reliability of a grid based on wind and solar energy • The cost of achieving the 2030 renewable targets • The merits of putting electricity infrastructure underground • Concerns regarding the impact of local grid infrastructure projects All submissions will be analysed in detail by SONI and will be incorporated into the final Shaping Our Electricity Future strategy. It is anticipated that this will be published later in the year, setting out the final roadmap to achieving renewable electricity goals.

Alan Campbell, Managing Director of SONI