SINGAPORE - Media OutReach - 20 November 2020 - Irish headquartered IT procurement and services company, Arkphire, today announced it is to be fully
acquired by Presidio, a leading North American IT solutions provider. The deal represents a further consolidation
of scale in the ICT services market creating a global IT supply and services
business. Arkphire will support Presidio
as a strategic platform to drive business expansion across both Europe and Asia
Commenting on the acquisition, 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
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.
Chris Ambler, Head of Asia-Pacific,
Commenting on the acquisition, Presidio CEO
Bob Cagnazzi said: "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. 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 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.
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.