Sandyford based IT procurement and services company, Arkphire, today announced the acquisition of Trilogy Technologies, one of Ireland’s leading independent ICT Managed Services providers.
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.
Trilogy Technologies’ co-founder and managing director, Edel Creely, is joining the board of Arkphire.
Commenting, Trilogy Technologies co-founder and group managing director, Edel Creely, said: “We are delighted to join the team at Arkphire at this particular time in our evolution. 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. For Trilogy, the acquisition provides a more compelling proposition for our customers, enabling us to offer extended enterprise capabilities across the full spectrum of IT services.”
Established in 2009, Trilogy Technologies has developed a successful business around the design, implementation, management and support of IT infrastructure, cloud and managed security services for Irish and UK organisations. In 2018, Trilogy expanded its managed security services with the acquisition of Zinopy. In 2019, Trilogy Technologies won the ‘Company of the Year’ award at the Tech Excellence Awards and ranked in this year’s Deloitte Technology Fast 50 list of growth companies alongside Arkphire.
Arkphire was supported on the acquisition deal by IBI Corporate Finance with Trilogy Technologies working with Mazar’s Corporate Finance team. Completion of the transaction is now subject to approval from the Competition & Consumer Protection Commission.
17/12/2019