Clearwater advises Qubix International on its sale to Version 1

Transaction

Qubix International sold to Version 1

Sell-side

Undisclosed

Role

Adviser to Qubix International on its sale to Version 1

Sector

Tech & Tech Services

Region

United Kingdom

Clearwater has advised Qubix International, a global Oracle partner, on its sale to Version 1, a leading digital transformation partner.

Established in 1987, Qubix predominantly serves large financial institutions including Barclays, NatWest and Nomura; operating across the UK, US, and Australia, with additional delivery capabilities in India and Slovenia. The business employs 170 people globally, specialising in the implementation of Oracle EPM and ERP systems.

Founded in Dublin, Ireland, digital transformation partner Version 1 employs over 3,000 people across the UK, Ireland, Spain, and India. Accelerated by the increasing demand for technology and digital transformation services, Version 1 has increased its long-standing presence in the Irish market and gained a strong foothold in the UK public and commercial sectors, thus creating hundreds of opportunities for professionals across all disciplines and experience levels to develop their careers with Version 1 from several locations globally.

Following Version 1’s acquisition, the Qubix team will become part of Version 1. CEO Julian Owens and Group Strategy and Growth Director, Paul Johnston, will both be stepping down, however the remaining management team will continue with Version 1 and are eager to embark on the next phase of growth with Qubix as part of the Version 1 family.

As an award-winning global Oracle partner of the highest level of accreditation, Qubix brings to Version 1 over 25 years of specialist experience and expertise from over a thousand successful financial engagements across hundreds of customers’ projects. With deep expertise evidenced at every stage of their customer journeys, Qubix will place Version 1 in an increasingly favourable position with both new and long-standing customers alike, enabling Version 1 to drive further business agility and transformation within our customers’ businesses. There are many positive synergies between Version 1 and Qubix, but it’s Qubix’s demonstrated dedication to excellence in addition to the empathy shown to its people and its customers that further reassured Version 1 that this would be a very positive partnership.
Colm Gillard, Managing Director of Version 1

We set out to find a partner who would complement our existing business and geographies and provide a good home for our staff in terms of a caring environment and great career opportunities. We believe Version 1 is that good home. Qubix fills the Performance Management and Analytics gap in Version 1’s Oracle practice, strengthens their existing ERP capability as well as providing springboards to international expansion in the Americas and Asia Pacific. I believe this arrangement will be good for everyone, including the staff and customers of both companies.
Julian Owens, CEO, Qubix

Having met Julian a few years ago, we worked closely with him and the Qubix team to find the right home for the business, its people and its customers. The combination of Qubix and Version 1 is highly strategic but just as importantly, the businesses cultures, vision and values are also closely aligned. It’s a source of pride for the whole deal team to realise the shareholders’ objectives, whilst also continuing our market-leading track record in digital transformation and particularly the vendor specialist segment!
Wes Fell-Smith, Head of TMT, Clearwater