Kefron, an Irish document and information management company, has announced the acquisition of two companies, Evolution and Lightspeed .

The €1 million investment will see Kefron increase its staff initially by 20, as all staff at both companies will be retained, with the aim of recruiting more staff following continued investment before the end of the year.

The acquisition of Lightspeed, which is based in the UK, will allow Kefron to expand across Ireland and the UK for digital document management solutions.

The Kefron group consists of Kefron Filestores, Kefron Digital and Kefron Consulting.

Founded in 1989, the company employs 153 staff and has an annual turnover of over €15 million. Its managing director is Paul Kearns.

The acquisition of Dublin- based Evolution, which has clients in both the UK and Ireland, will allow Kefron to develop integrated software solutions in-house for the document management needs of clients.