Hitachi Group subsidiary GlobalLogic to buy Athlone tech firm Sidero.
GlobalLogic has entered into an agreement to buy Athlone-based tech engineering and cloud development firm Sidero for an undisclosed sum.
The acquisition is aimed at bolstering GlobalLogic’s capabilities in the dynamic communications technology sector, and expands its European presence in Ireland.
“We are excited about the synergies that will be created by our combined organisations”
Sidero Ltd. was founded in Athlone in 2013. The business employs 230 people.
The Midlands Silicon Valley
Sidero is one of a coterie of tech and life sciences businesses that have grown up in and around Athlone, including FDI businesses like Ericsson as well as Jazz Pharmaceuticals and Alexion.
Its experience design and engineering teams based in Athlone and Newry, Northern Ireland, facilitate the creation of innovative solutions that will directly benefit GlobalLogic’s current and future clients.
“We are thrilled to welcome the talented Sidero team into the GlobalLogic family.” said Nitesh Banga, President and CEO of GlobalLogic.
“Our deep roots in Communications technology are a perfect complement to Sidero’s expertise and competencies. With our combined strengths, we will bring tremendous value to our mutual clients and further enhance our leadership in this and other highly dynamic verticals.”
The terms of the transaction were not disclosed. Under the agreement, Sidero will continue to operate with its existing leadership and staff as a wholly owned subsidiary of GlobalLogic. The transaction is subject to customary regulatory approval and is expected to close in the second half of calendar 2023.
“GlobalLogic has long been recognised for its digital engineering prowess, unique and diverse employee culture, as well as a delighted community of clients,” said Carmel Owens, CEO, Sidero.
“We are excited about the synergies that will be created by our combined organisations, and we look forward to providing differentiated capabilities and enhanced value to our customers in Ireland and across the globe.”
Main image at top: Nitesh Banga, President and CEO of GlobalLogic, and Carmel Owens, CEO Sidero