Xerox snaps up Irish firm for €21m

OFFICE equipment manufacturing giant Xerox has expanded its Irish presence via the €21 million ($31m) acquisition of Cork-based print services provider, Irish Business Systems (IBS).

Xerox employs more than 700 people nationally. This deal will boost its Irish-based customer numbers to more than 11,000.

IBS – formed in 1972 by its current head, Jerry Carey – will now operate as a wholly owned subsidiary of Xerox; retaining its name and its 185-strong workforce. The main shareholders of IBS, including Mr Carey, will be the key beneficiaries of the transaction.