Blue Rock has been reselling, implementing and supporting Intact ERP systems for over 16 years and the move is intended to “strengthen Intact’s market share across the target verticals in which it operates and will bolster the company’s talent pool to support ambitious growth plans for Ireland, the UK and global markets”.
Justin Lawless, Intact CEO, said: “The acquisition of Blue Rock Systems is part of Intact’s strategy to become the leading provider of ERP and business software solutions in the merchant and distribution sector. This important development adds to our strong customer base and involves a team of highly skilled individuals, with deep software industry expertise, who will enhance customer service and support our growth plans.”
Intact’s “historic profits” facilitated the self-funded multi-million-pound acquisition, without the requirement for outside investment. In addition, Blue Rock’s full team has been retained as part of the acquisition deal, which will see Intact employee numbers increase from 200 to 243 staff across Ireland and the UK.
Justin explained that Blue Rock has recorded robust revenue and profit growth in recent years, aligned with excellent customer and employee retention rates. He continued: “Blue Rock Systems grew revenue 30% last year, returning double digit profit growth. Its 43 staff and senior management are all vastly experienced in the software industry and, working collaboratively as part of Intact, will add immense value to our product and service offering.”
Blue Rock was formed in March 2005 by Managing Director George Troullis, Sales Director Glen Jewell, and Commercial Director Lance Norton. George Troullis, who will oversee the business incorporation to ensure a seamless transition for the software house’s 150+ customers, commented: “The synergy is excellent, and the combined expertise will strongly boost customer resources. This acquisition will see existing and new customers benefit from an expansion of services and improved processes, with an integrated team sharing best practice to ensure we maximise Intact market performance.”
In February this year, Intact also invested in a new, expanded UK headquarters in Hemel Hempstead.