Vyta targeted €10.5 million annual revenue as demand grew across Ireland, the UK and Europe
In 2019, Vyta announced plans to grow group revenues to €10.5 million by 2021 as demand for its IT asset disposition and data destruction services increased across Ireland, Great Britain and continental Europe.
Business more than doubled in two years
At the time, the company had more than doubled its business in two years to €7.6 million, reflecting increased demand for its services across its core European markets.
Vyta signed 96 new customers in 2019, expected at the time to generate €1.05 million in revenue over the following year. The company had also agreed a three-year outsourcing agreement with charity Camara Education, bringing an additional 122 customers into its operations.
15 additional jobs created
To support this growth, Vyta created 15 new roles during 2019, bringing its workforce to 75 employees at the time. The company was targeting a workforce of 90 by 2021, with recruitment across marketing, sales, compliance and business development.
Growing demand for secure data destruction
The introduction of GDPR contributed to increased awareness of the data security risks associated with retired IT equipment. Organisations increasingly recognised the importance of securely erasing residual data from devices before reuse, resale or recycling.
Commenting on the announcement, Philip McMichael, CEO of Vyta, said: “Businesses are more aware than ever that failing to cleanse their old desktops, laptops and hard drives of all data can lead to a breach of sensitive customer and company information. We are experiencing a corresponding surge in demand for our secure services, especially given the high rate of return we can offer customers through the resale of their equipment. Last year we returned €2.5 million to our customers.”
Deployment and relocation support exceeded expectations
Vyta was also expanding beyond traditional IT asset disposition. Following the launch of its deployment and relocation support service in December 2018, the company visited 140 sites across the island of Ireland. The service supported clients with the deployment of IT equipment and office relocations and generated revenue 300% above initial expectations in its first year.
Philip McMichael said: “While we have seen some short-term benefits of Brexit through our deployment and relocation service, we are also examining new income streams to maintain our position in the market long-term. The Republic of Ireland has become a major hub for data centres and Brexit has seemingly accelerated this growth. Processing high volumes of data and with a high equipment turnover, this market represents an obvious and lucrative opportunity for Vyta and is one we are actively pursuing.”
Vertical Market Specialist of the Year 2019
Alongside its business growth, Vyta was named Vertical Market Specialist of the Year at the 2019 Tech Excellence Awards. The company was also among the first indigenous Northern Irish businesses to become a member of the Living Wage Foundation.
About Vyta
At the time of this announcement, Vyta specialised in the secure retirement, data sanitisation, refurbishment, resale and recycling of end-of-life IT equipment. The company had been operating since 2001 and had established a strong position across Ireland and the UK, supported by independently audited security standards and a focus on maximising the reuse and residual value of retired IT assets.
Today, Vyta provides secure IT Asset Disposition services alongside wider IT lifecycle services across Europe and through its international partner network.
