Technology services firm PFH has announced the acquisition of IT solutions provider Redstone Technology in a deal worth about €2.5 million.
In a statement PFH said the enlarged business will have annual revenues of more than €55 million and employ approximately 235 people
Redstone Technology provides storage and server space to public and private sector clients and employs 55 people. It was acquired by PFH from Redstone Plc, which is seeking to reorganise its business and focus on the UK market.
PFH chief executive Paul Hourican said the deal was strategic and significantly strengthens its position in the enterprise storage and server solutions market.
PFH is headquartered in Dublin but also has offices in Cork, Limerick and Galway. It serves customers across pharmaceutical, banking, manufacturing, government, education and health sectors.
The firm acquire the Irish arm of Siemens Enterprise Communications (SEC) earlier this year and has also formed a finance company offering blue-chip customers long-term leasing arrangements as an alternative to buying IT systems using their own capital.
