Arkphire acquires Trilogy Technologies, First Major Consolidation of Scale for Irish IT Services Sector
IT procurement and services company, Arkphire, today announced the acquisition of Trilogy Technologies, one of Ireland’s leading independent ICT Managed Services providers. The financial terms of the deal were not disclosed.
The deal marks the first major move of significant scale towards industry consolidation in the Irish ICT Managed Services sector as businesses seek outsourced support to meet ever more complex and demanding IT infrastructure and business transformation challenges. Following this acquisition, the newly enlarged group now creates the largest and fastest growing Irish headquartered IT procurement and IT managed services business with combined revenues close to €150 million and employing 220 people.
Commenting on the acquisition, Paschal Naylor, CEO at Arkphire said: “This development is a positive step for both Arkphire and Trilogy Technologies, which together have a shared ambition to continue to scale both in Ireland and internationally and to respond to the needs of the market with a stronger, more comprehensive IT services offering from our combined resources.
“Trilogy Technologies is one of Ireland’s most highly regarded ICT Managed Services companies with a great management team, customer base and a service portfolio covering managed ICT services, cloud and cyber security that complements Arkphire’s suite of services. Today’s acquisition strengthens and deepens our people and leadership resources to deliver critical scale for the business. Supported by our strategic investor in Bregal Milestone, we are confident that Arkphire can maintain our growth trajectory for the business as a whole, both organically and through further acquisition activity as and when appropriate.”
Both Arkphire and Trilogy Technologies will initially remain as distinct businesses and the acquisition will have no impact on the day-to-day business operations of the respective companies. The senior management teams across both organisations will remain in their roles and further opportunities for more integration across the wider group will be achieved in time.
Commenting, Trilogy Technologies co-founder and group managing director, Edel Creely, said: “The move will accelerate our ambition to invest and scale the business where our combined capabilities will allow us to exploit new opportunities to grow the business both in Ireland and internationally.”