WillItSurvive
IT services and system integrators · subsidiary of Partners Group · United Kingdom

Version 1

version1.com ↗

Irish IT consulting firm doing cloud migration, Oracle/Microsoft work, and managed services for governments and enterprises.

Protection under test
Assessed 21 July 2026 · Evidence as of 21 July 2026
Something worth protecting exists and is being tested right now.
On the recordSince 21 July 2026 · Checkable from Q4 2026 · Every call on the record Checkpoint: CreateFuture integration and regulatory clearance expected to complete
The call

Version 1 has the contracts and partnerships to keep billing for years, but its core work sits right where AI coding tools and bigger rivals are both pushing hardest.

Version 1 helps government and large companies move to cloud systems and run IT operations, earning over 500 million euros yearly with real profits. The big challenge: giant firms like Accenture and Deloitte chase the same customers, and new AI tools can now write code and set up systems faster and cheaper than consultants can, which eats into the work Version 1 does. The one thing that could change everything is whether Version 1 can shift into higher-value advisory work for regulated industries before AI tools compress what they charge for routine cloud moves and system management.

Why
01
AI pressure: Agentic coding tools like GitHub Copilot, Cursor, Claude Code, and AWS Bedrock agents. These tools automate the cloud migration, config, and monitoring work that makes up much of Version 1's bread and butter billing. Could AI do the core job? Only partly.
02
Bigger players: Accenture, Deloitte, Capgemini, TCS, IBM Consulting, Cognizant, Infosys. These firms chase the same public-sector and enterprise contracts with bigger balance sheets and more AI investment dollars to burn. Could a giant copy it? Yes, easily.
03
What protects it. Long-held public-sector contracts like HMRC and National Highways plus deep Oracle and Microsoft partnerships create switching friction.
What would change this call
Revenue-per-head and day-rate trends reported in Version 1's next annual filings. Would show whether AI tools are compressing margins on commodity migration and support work.
Confirmation of CreateFuture integration completion and regulatory clearance within the announced 6-month window. Would show whether the merger is executing smoothly or facing delays that signal integration risk.
Any Partners Group sale, IPO filing, or ownership change announcement for Version 1. Would show whether the PE exit timeline is on track or under pressure, affecting stability.
Key numbers
  • Combined revenue over €500m post-CreateFuture (Apr 2026)
  • Headcount grew 18.8% to 3,935 in 2025 (Dec 2025)
  • Job postings surged 113% to 982 in 2025 (Dec 2025)
Named risks
  • Agentic AI tools compressing margins on commodity migration, config and monitoring work. Severity: high
  • Partners Group approaching typical 4 to 7 year PE hold, raising exit/sale uncertainty since 2022 investment. Severity: medium
  • CreateFuture integration risk given undisclosed deal terms and unconfirmed regulatory clearance as of April 2026. Severity: medium
  • New CEO Roop Singh (since June 2025) and refreshed C-suite create execution transition risk. Severity: medium
  • Direct competition with far larger Accenture, Deloitte, IBM, Capgemini for same enterprise tenders. Severity: high
Rivals, as read in July 2026
RivalDirectionEvidence
AccenturecontestingDublin-headquartered, ~$61.6bn 2022 revenue, bids same Oracle/MS/AWS enterprise work as of 2026
DeloittecontestingDeloitte Ireland turnover €558m FY2025, competes for same public/private sector contracts
IBM Consulting, Capgemini, TCSgaining onLarger-scale rivals leveraging agentic AI tools to compress commodity migration/config work in 2026
CGI, PA ConsultingcontestingMid-market Oracle/Microsoft/AWS-focused peers competing for similar UK/Ireland accounts
Questions people ask
Is Version 1 profitable?
As a private company Version 1 does not disclose profit figures. Its scale suggests health: combined group revenue exceeded €500 million after the April 2026 CreateFuture acquisition, backed by Partners Group ownership since July 2022, though no net income data is public.
Who owns Version 1?
Swiss private markets firm Partners Group holds the majority stake, completed 13 July 2022, in a deal reportedly valuing Version 1 at €600 million to €800 million. It bought the stake from prior majority owner Volpi Capital, which had acquired the firm in 2017.
Could AI replace Version 1?
Version 1's commodity cloud migration, boilerplate config and tier-1 monitoring work is exposed to agentic AI coding tools, but its 30-year Oracle Platinum Partner status, Microsoft and AWS accreditations, and locked-in contracts like HMRC and National Highways offer partial insulation as of 2026.
Is Version 1 laying off staff?
No layoffs are reported. Headcount grew to roughly 4,250 after the April 2026 acquisition of CreateFuture added 550 professionals, and the firm's 2026 leadership expansion (new CCO and CPO hires, May 2026) signals continued growth rather than cuts.
Who is Version 1's biggest competitor?
Version 1 competes for the same Oracle, Microsoft and AWS enterprise and public-sector contracts as much larger rivals including Accenture, which is Dublin-headquartered with roughly $61.6bn 2022 revenue, and Deloitte Ireland, which posted €558 million FY2025 turnover.
What does Version 1 actually do?
Version 1 is an Irish IT consulting and managed services firm founded in Dublin in 1996 by Justin Keatinge and John Mullen, specializing in Oracle, Microsoft and AWS cloud migration, application modernisation and outsourced managed services for public and private sector clients.
Timeline
  • 2026-05-13Appointed Sarita Sudera as Chief Commercial Officer and David Churchill as Chief People Officer
  • 2026-04-30Announced acquisition of CreateFuture, forming ~4,250-person group with over €500m revenue
  • 2025-06-11Roop Singh appointed CEO; Brian Humphries reverted to Chairman
  • 2024-07-25Acquisitions list includes Farsight Consulting (2024), Qubix and Automation Logic (2023)
  • 2022-07-13Partners Group completed majority stake acquisition from Volpi Capital
  • 2022-04-20Deal reported valuing Version 1 at €600m to €800m
  • 2017Volpi Capital bought majority stake in ~€100m founder buyout
  • 1996Founded in Dublin by Justin Keatinge and John Mullen
Revision history
21 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
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