Acquisition expected to create new global IT supply and services business
NEW YORK–(BUSINESS WIRE)–Presidio, Inc., a leading North American IT solutions provider delivering solutions to create agile, secure infrastructure platforms for its customers, today announced that it has entered into a definitive agreement to purchase Arkphire, headquartered in Dublin, Ireland. Arkphire is a leading IT product procurement and IT services company, serving customers internationally across more than 90 countries. The acquisition is expected to provide Presidio with a strategically significant hub and platform to drive business expansion across both Europe and Asia Pacific in particular.
Arkphire enables the digital workspace and digital transformation journey for their clients by providing integrated technology solutions that span end-user compute, networking, cyber security, cloud and data center. Following its acquisition of Trilogy Technologies earlier in 2020, Arkphire has become the largest and fastest growing Irish headquartered IT procurement and IT managed services business.
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.”
Paschal Naylor, chief executive at Arkphire stated: “This announcement with Presidio is great news 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 the needs of the market. 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 business.”
Closing of the transaction is subject to customary conditions, including required regulatory approvals. The parties expect the transaction to close in the first quarter of 2021.
Arkphire is a leading IT product procurement and IT services company, serving customers internationally across more than 90 countries. Arkphire provides integrated technology solutions that span desktops, networking, cyber security, cloud and data centre, enabling the digital workspace and supporting businesses on their digital transformation journey.
Following its acquisition of Trilogy Technologies in 2020, Arkphire is now positioned as the largest and fastest growing Irish headquartered IT procurement and IT managed services business.
Arkphire Group has an unrivalled network of partnership accreditations with leading global IT vendors and is a Check Point 4-Star, Cisco Gold, Citrix Platinum, Dell Technologies Titanium, HP Platinum, IBM Gold, Lenovo Platinum and Microsoft Gold Partner. Arkphire is also an Apple Authorised Enterprise Reseller (AAER).
Arkphire group employs over 250 people and generates revenues of over €150m.
Presidio is a leading IT services and solutions provider that helps customers connect IT of today to IT of tomorrow. Our deep technology expertise across cloud, security, modern IT infrastructure and networking underpin our ability to help customers accelerate time-to-outcome via agile digital platforms. We deliver this technology expertise through a full life cycle model of professional, managed, and support services including strategy, consulting, implementation, and design.
As of June 30, 2020, we served approximately 7,300 middle-market, large, and government organizations across a diverse range of industries. Approximately 2,800 Presidio professionals, including approximately 1,600 technical engineers, are based in over 57 offices across the United States in a unique, local delivery model combined with the national scale of a $2.8 billion-dollar industry leader. We are passionate about driving results for our clients and delivering the highest quality of service in the industry. For more information visit: www.presidio.com
Safe Harbor Statement
This press release contains “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “expect,” “believe,” “target,” “indicative,” “preliminary,” or “potential.” Forward-looking statements in this communication may include, without limitation: statements about the potential benefits of the proposed acquisition, anticipated growth rates, Presidio’s plans, objectives, expectations, and the anticipated timing of closing the acquisition. Risks and uncertainties include, among other things, risks related to the satisfaction of the conditions to closing the acquisition (including the failure to obtain necessary regulatory approvals) in the anticipated timeframe or at all, disruption from the transaction making it more difficult to maintain business and operational relationships; significant transaction costs; unknown liabilities; other business effects, including the effects of industry, market, economic, political or regulatory conditions; changes in tax and other laws, regulations, rates and policies; future business combinations or disposals; competitive developments; and other risks and uncertainties.
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