Totalmobile acquisition of Cognito iQ follows Learning Pool deal in US
Ulster Bank has supported a second Northern Ireland tech company in recent months that has made a major acquisition.
Ulster Bank announced in February that it had backed Londonderry-based Learning Pool to acquire a Colorado-headquartered e-learning company. Now it reveals that it has this month provided support to Field Service Management (FSM) software company Totalmobile, which has just acquired Cognito iQ, a Newbury-based provider of cloud-based mobile workforce management and analytics technology solutions.
Ulster Bank has provided a comprehensive funding solution to Totalmobile, which has added real-time performance analytics capabilities to its FSM technologies through the acquisition of Cognito iQ.
Northern Ireland’s tech sector has remained resilient in the Covid-19 era and continues to thrive, as a recent report by Tech Nation and job search engine Adzuna shows.
In 2020, international investment in Northern Irish tech companies rose to record levels, with local firms attracting £45.6 million in funding despite the challenges presented by the pandemic. This marks a steep increase of 50% on the previous record of £30.4 million which was set in 2018.
Kenton Hilman, Head of Corporate and Property at Ulster Bank said: “At Ulster Bank, we’re committed to supporting our technology sector customers, which range from emerging start-ups within our Entrepreneur Accelerator Programme to established SMEs and some of Northern Ireland’s largest tech employers. The sector will play an essential role in the immediate economic recovery post-pandemic and an even bigger role in driving future economic growth and job creation.
“Even under the challenging economic climate brought about by the pandemic we’re seeing continued investment and funding injections within the sector. Success in Northern Ireland’s tech cluster also continues to attract international technology companies to set up here and every year our homegrown successes are branching out further into new market sectors and regions.”
Jim Darragh, CEO of Totalmobile added: “Ulster Bank’s support is very welcome and helps us fund the business with a view to meeting our growth ambitions. We are excited about the acquisition of Cognito iQ. Integrating the market-leading real-time analytics software developed by Cognito iQ with our existing portfolio of field service and mobile workforce management tools will position Totalmobile as the partner of choice for any customer seeking an effective solution to drive continuous improvement across their operations.”
A message from the Editor:
Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.
In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.
Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.
With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.
You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk
With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.