Deal: SL Controls shareholders (left to right) Mick McHale, Darragh McMorrow and Dermot McMorrow, CEO Keith Moran, Paul Clarke and Shane Loughlin
Deal: SL Controls shareholders (left to right) Mick McHale, Darragh McMorrow and Dermot McMorrow, CEO Keith Moran, Paul Clarke and Shane Loughlin
Sligo-based software integration firm SL Controls has been sold for €12.7m to the Danish multinational IT firm NNIT.
The deal includes a further earn-out possibility of €4.2m, bringing the total potential value to €16.9m.
Founded 19 years ago by CEO Keith Moran and chief digital officer Shane Loughlin, SL Controls sells software integration systems to multinational firms dealing in medical technology, pharmaceuticals, healthcare and wider technology.
It employs 100 people in Ireland and in the US, with offices in Sligo, Dublin, Limerick, Galway and Florida.
A company spokesperson said that the firm is “on track” to record revenues in excess of €10m for 2021.
NNIT is one of Denmark’s largest IT services companies with more than 3,000 employees worldwide and offices across Europe, North America and Asia.
It provides IT services mainly to the life sciences industry.
The SL Controls spokesperson said that all of the company’s staff and management will remain in place in the Sligo firm after the acquisition.
In March, the company announced an intention to hire 50 new people over the next 18 months.
“In joining the NNIT group of companies, SL Controls is excited to join a company with a shared vision of excellence in service delivery in the life sciences industry,” said Mr Moran.
"In the ever-evolving, fast-paced life sciences sector, digital transformation is critical in meeting our customers’ global supply demands for life-enhancing pharmaceutical and medical device products.”
The NNIT Group provides a range of IT and consulting services internationally.
In Denmark, where the Group headquarters is based, it services both private and public sector customers across all industries. In the rest of Europe, Asia and USA it focuses solely on companies within life sciences.
The NNIT Group consists of group company NNIT A/S and subsidiaries Valiance, SCALES and Excellis Health Solutions.
“We have already shown that we are able to successfully acquire IT companies within the life sciences segment and quickly leverage the joint synergies, in this case enriching our production IT and supply chain services and now offering end-to-end services,” said Rasmus Nelund, corporate vice president of NNIT Life Sciences Customer Success.