Dublin’s tech firm Socius announces merger with SBS Group

DUBLIN, Ireland - Dublin-based tech group, Socius has decided to merge with a New Jersey-based company called SBS Group.

The Dublin firm, based in Perimeter Dr. said that its merge with SBS Group will lead to the formation of a new company called Velosio.

While the companies have not disclosed the terms of the deal, the combined entity will reportedly include leadership teams from both companies and oversee 300 employees.

The companies noted that SBS Group President and CEO Jim Bowman will be chairman of the new company, while Socius CEO and senior managing director Jeffrey Geisler will be its CEO. 

The company said that the venture does not expect immediate staffing changes, but "significant growth is expected in personnel" starting in 2018.

Geisler said in a statement, “Our sole purpose is to help middle market businesses understand and take advantage of the significant shift we’re seeing around technology and business transformation. We now have a single team whose capabilities and experience with cloud technologies including Dynamics 365 are second to none."

The two companies will together have 4,000 customers and the new venture will deal with the management of technology and software for sales, marketing, finance and business operations, using the Microsoft Dynamics suite of programs. 

The companies said that they plan to combine their programs into a single business development product that incorporates the Dynamics programs, Office 365 and Azure Services.

Bowman said in the statement, “The company we are creating is one of a kind.”