Reseller giant Presidio has stuck its substantial US foot into the door of the European market after writing a cheque for the Dublin-based IT procurement and services company Arkphire.
For those not in the know, Presidio is a $3 billion-revenue outfit from across the pond. Apparently, it wants to use Arkphire as a platform to expand its business across Europe and Asia Pacific.
The deal should be sorted out by early next year and will be the first time outside the US for Presidio.
Arkphire is a €160 million-revenue firm with 250 staff and offices in Dublin, London, Singapore and Brazil.
Oddly, it was recently a shark of itself after merging with local rival Trilogy Technologies to create what it claimed is the largest IT procurement and managed services business in Ireland.
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 characterised the management team. The acquisition is expected to provide Presidio with 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.”
Arkphire CEO Paschal Naylor 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.”
