Acquisition of Arkphire by $3bn US player Presidio expected to create a new global IT supply and services business.
Irish IT procurement and services company Arkphire has been acquired by North American IT solutions player Presidio for an undisclosed sum.
Part of the narrative for an ongoing consolidation of scale in the global ICT service market, Arkphire will support Presidio as a strategic platform to drive business expansion across both Europe and Asia Pacific.
“We are in the business of enablement”
Both Arkphire and Presidio have a shared core business model focused around digital infrastructure, cloud, security and other IT services.
Presidio’s $3bn 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.
Plotting a global path
Arkphire Dublin offices.
“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,” said Arkphire CEO Paschal Naylor.
“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.”
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.
“Presidio was attracted to Arkphire by the quality of its portfolio of solutions and services, and the customer-centric culture of excellence that characterized the management team,” said Presidio CEO Bob Cagnazzi.
“The acquisition is expected to provide Presidio an opportunity to assimilate Arkphire’s best practices into our own in the US, while providing Presidio a platform to scale our ambitions in Europe and Asia Pacific.”
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.
Arkphire and Bregal Milestone were advised on the acquisition by William Blair (corporate finance) and Reed Smith (legal). Completion of the transaction is now subject to approval from the European and Irish competition authorities.
By John Kennedy (firstname.lastname@example.org)
Published: 19 November, 2020