Acquisition creates a new global IT solutions business
5 January, 2021: Irish headquartered IT procurement and services company, Arkphire, has today announced the completion of its acquisition by Presidio, a leading North American IT solutions provider. The announcement follows formal approval and clearance for the transaction from the Competition Authorities in Ireland and Europe.
The combined capabilities from both Arkphire and Presidio create a new global IT solutions business with the ability to serve their customers in all key markets. Arkphire will now join the Presidio Group, maintaining its distinct ‘Arkphire’ brand and look to drive further business growth across both Europe and Asia Pacific while leveraging Presidio’s strong presence in the US.
Commenting on this latest development, Paschal Naylor, chief executive at Arkphire said: “We are delighted to close this deal with Presidio. We are looking forward to building a very strong working partnership with the team at Presidio, ensuring we expand our capabilities to deliver an even stronger service offering in response to our respective customers’ needs.”
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.
Commenting on the acquisition, Presidio CEO Bob Cagnazzi said: “We are very excited to formally complete the acquisition and to combine the strengths of both organisations in order to provide the highest levels of service to our customers globally. In particular, we will be seeking to leverage Arkphire’s experience, expertise and global footprint to provide Presidio with a platform to drive business expansion across both Europe and Asia Pacific.”
The acquisition marks another major milestone for 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.