NovaUCD Company Cernam Acquired by Biotech IT Specialist Daybreak
Daybreak, salve a US IT services provider has made its first acquisition, with the purchase of digital evidence specialist Cernam, a company that’s based in NovaUCD. This move will lead to the creation of 12 jobs in Dublin and California.
Daybreak, which is an independent private company that was established in 2013 through Élan’s outsourcing of its entire IT function, hopes to benefit from the hugely successful and rapidly growing digital evidence market with this manoeuvre, targeting $10 million in revenues over a three year period.
Cernam has been based at NovaUCD, the Centre for New Ventures and Entrepreneurs at University College Dublin, since 2008 and as part of the acquisition its managing director Owen O’Connor will be joining Daybreak as vice-president of digital evidence, providing crucial experience and knowledge of the sector.
Digital evidence is any corroboratory information stored or transmitted in digital form that a party to a court case may use at trial. Cernam is well renowned within this field, leading the way in online evidence. This relates to digital evidence coming from online sources, for example; cloud services like Dropbox and social networks like Facebook.
Daybreak CEO highlighted the ambitiousness of the company stating that “Cernam represents the first acquisition by Daybreak and we intend to acquire other companies whose product and service offerings complement and expand our unique IT service capability to the biotech sector.”
Daybreak’s foray into the digital evidence comes at a time when industry analysts Gartner forecasted a market valuation of $2.9 billion for e-discovery software.
Continuous and constantly increasing levels of smartphone usage and use of cloud services have bolstered the market tremendously.
Recently appointed Vice-President of Digital Evidence at Daybreak Owen O’Connor seemed confident of the company’s future in the market they have recently entered as he spoke of a strong market for our services and products in addressing “our clients’ digital evidence challenges.”