Irish cloud and information management company Kefron has invested €1m in acquiring both Evolution and Lightspeed, with plans to expand the overall workforce by the end of the year.
The staff at both Lightspeed and Evolution will be retained, which will increase Kefron’s staff numbers by 20 immediately, with further hires expected in the coming months.
Lightspeed offers a similar digital documentation management service in the UK, with Dublin-based Evolution providing integrated software solutions for clients both in Ireland and the UK. The combined acquisition will, therefore, improve Kefron’s scalability both sides of the Irish sea.
“We continue to see an increasing growth in businesses transitioning their processes from manual to automated,” says Paul Kearns, managing director of Kefron.
“The acquisition of both Evolution and Lightspeed will provide us with additional capacity and in-house software skills to meet and exceed our clients’ needs for document management as we continue to grow this part of our business.”
Kefron has been in operation for 26 years, employing 153 staff with an annual turnover of €15m.
Alistair Thacker, Evolution’s MD, has now been appointed as head of technology at Kefron, with Lightspeed directors Adrian Guice and Andrew Forward continuing their roles in operations and sales respectively.