Irish IT services company Nostra snaps up rival EMIT

Irish IT services company Nostra, which is targeting revenues of €25 million by 2020, has acquired rival Emit for an undisclosed sum.

Founded in late 2006, Lucan-based Nostra provides full IT support and maintenance to more than 200 companies, including BoyleSports, Dawn Farm Foods and aircraft leasing firm Avolon.

The company, which was established by former EY Entrepreneur of the Year finalist Kevin O'Loughlin, his brother Barry, Gary Byrne and Senan Finucance, currently employs about 100 people.

Dublin-based Emit, which was founded in 2004 by Eamon Moore, provides business productivity, infrastructure, cloud computing and IT security solutions.

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While no financial details of the deal for Emit were disclosed, Nostra said the acquisition would bring revenues to €12 million. The company is projecting turnover of €10 million for 2018, up from €8 million last year.