Wellington IT Solutions acquires Octagon Computer Services

Wellington IT Solutions acquires Octagon Computer Services

Wellington IT Solutions has today announced the purchase of the business and assets of Octagon Computer Services. Wellington IT Solutions is one of Ireland’s longest established IT providers to credit unions and the acquistion of Octagon Computer Services will make them the biggest supplier to the movement, representing some 150 credit unions and 1.2 million members with a combined asset base of around €6.5 billion. The acquisition is part of an on-going investment in the credit union market to provide software solutions and services aimed at the harmonization of systems, processes and capabilities for credit unions throughout Ireland.

This positive move will allow for greater depth of shareable knowledge amongst the wider credit union community, with synergy between members, staff and technologies.  It will mean members have more flexible access to their funds, with more services than many main banks can presently offer; and the credit unions who have embraced the new technology provided can enjoy the benefits of smarter systems.

Speaking of the investment, Alex Dunne, Director of Wellington IT Solutions stated “It’s a very exciting time for both our companies and we are delighted to welcome Octagon into our organisation.  The company has a strong pedigree and long history of service within the industry; and together we are Ireland’s leading supplier of software and services to credit unions. Together we will change the way credit unions work for everyone.”

Established in 1983, Wellington IT Solutions began by producing computer software for the Drinks Industry and can now number among its clients some of the most prestigious drinks companies in Ireland. The company diversified into credit unions in 1990, and until today supplied over 40% of the top 50 credit unions in Ireland, offering a wide range of services, from SMS text messaging to full EFT online and mobile banking facilities. It’s continued success has been based on its ability to be agile, change and adapt throughout its long history. 

Alex added “This investment is a very important step in the development of our software and services; and it follows on from a successful year’s trading for Wellington, particularly with the roll out last year of the CuAnywhere mobile app to credit unions nationwide and this year’s unveiling of our new Core Credit Union product SCION. The business will now service 150 credit unions around the country; and in the coming years we will continue to invest heavily in innovative products and services.”

All of Octagon’s employees will be retained as part of the acquisition, and John Hudson, Managing Director of Octagon Computer Services will join Wellington IT Solutions as a consultant. At the acquisition announcement, John said “With increased regulation and much higher compliance demands on credit unions today it makes sense for software suppliers to come together providing the highest level of service. By joining Wellington IT Solutions we are providing our clients with the security of a company that has the same ethos around customer service as we have at Octagon.  Octagon was established in 1979 and we are now joining a company that is celebrating 30 years in business this year; so between our two companies we have over 60 years’ experience delivering for our customers.”

Alex finished by adding “This acquisition manages uncertainty within the market; and credit unions can rest assured that their systems will be supported going forward. Together we will use our combined knowledge to grow into the most competitive and customer focussed credit union software and services supplier in Ireland.”

For more information on Wellington IT Solutions and their range of services, visit www.well-it.com.

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