A leading Irish IT company co-founded and led by a Mayo man has been acquired by a major US company.
Irish headquartered IT procurement and services company, Arkphire, today announced it is to be fully acquired by Presidio, a North American IT solutions provider. It has been reported that the deal is worth €120m.
Arkphire will support Presidio as a strategic platform to drive business expansion across both Europe and Asia Pacific.
Commenting on the acquisition, Ballina native, Paschal Naylor, chief executive at Arkphire said: “This announcement with Presidio is a hugely positive development for Arkphire, our people and our customers, equipping us with the ability to extend our global reach and further evolve our service offering to customers in response to their changing needs. We are in the business of enablement. Being part of the enlarged Presidio family will open up many new possibilities and provide us with a natural partner to support the IT needs of our customers, regardless of where they want to do business.”
Both Arkphire and Presidio have a shared core business model focused around digital infrastructure, cloud, security and other IT services. Presidio’s $3 billion IT solutions and services business has a local presence in over 57 locations across the United States serving approximately 7,300 middle market, large and government organisations across a diverse range of industries.
The acquisition will mark another major milestone for the successful Irish technology services company Arkphire. Originally established in 1979, Arkphire has grown to become a €160m business with more than 250 employees and serving customers across more than 90 countries. In 2018, Private Equity firm, Bregal Milestone invested in Arkphire which has enabled Arkphire to further expand its international operations, notably establishing a presence in Asia Pacific through the acquisition of Singapore-based Generic Technologies.
The change in ownership at Arkphire will have no immediate impact on day-to-day business operations. The senior management, including its co-founder and chief executive, Paschal Naylor, will remain in their roles.