IT procurement and services firm Arkphire has acquired Trilogy Technologies, one of Ireland's leading independent ICT managed services providers.
The takeover marks the "first major move of significant scale" towards industry consolidation in the Irish ICT managed services sector, Arkphire said in its announcement, as businesses seek outsourced support to meet the increasingly more complex and demanding IT infrastructure and business transformation challenges.
As a result of the acquisition, the enlarged group now creates the largest and fastest-growing Irish-headquartered IT procurement and IT managed service business, with 220 staff on its books and combined revenues of almost €150 million.
Post-transaction, both companies will initially remain as distinct businesses with no impact to day-to-day operations, Arkphire said. Trilogy's co-founder and managing director, Edel Creely, is joining the Arkphire board but senior management teams will remain in their roles across both entities.
"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," said Paschal Naylor, Arkphire CEO.
With the business supported by strategic investor Bregal Milestone, Arkphire said it is confident it can maintain its growth trajectory both organically and through further acquisitions "as and when appropriate".
"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," Naylor added.
Founded in 2009, Trilogy Technologies has developed its business around the design, implementation, management and support of IT infrastructure, cloud and managed security services for organisations in Ireland and the UK.
In 2018, the provider expanded its managed security services with its acquisition of cyber security and workspace virtualisation firm Zinopy. This year, Trilogy was named 'Company of the Year' at the Tech Excellence Awards, as well ranked in the Deloitte Technology Fast 50 list of growth companies – alongside Arkphire.
"We are delighted to join the team at Arkphire at this particular time in our evolution," commented Ed Creely, co-founder and group managing director at Trilogy. "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."
