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.

The only thing to change in the company’s operations is that it will now offer Xerox’s suite of products rather than acting as the sole Irish distribution agent for Konica-Minolta (although it will still service existing customers with Minolta equipment). In time, IBS will offer the full range of Xerox products to Irish customers.

Xerox Europe senior vice president Douraid Zaghouani said the acquisition will increase the company’s presence in all parts of Ireland and will “strengthen the value proposition” it brings to SMEs, as well as expanding its managed print services offerings.

“IBS is a strong office technology and managed print services provider in Ireland and their extensive distribution and customer support complement the benefits of Xerox’s technology and solutions,” he added.

For IBS’ part, this deal is likely to give the Little Island-headquartered company scope for further growth. It services 15,000 customers from offices in Cork, Dublin, Belfast, Limerick, Galway, Sligo and Portlaoise. The likes of Bord Gáis, Bord na Móna, UCC, FÁS, Bank of Ireland, Ulster Bank, Musgrave Group and various Government departments are included on its client roster.

“This gives us a great opportunity for growth, through a much wider product offering and in financial strength,” said Mr Carey yesterday.

“In five years time, IBS can be twice the size it is now, with around 300 employees and a greater presence in the managed print services sector,” he added.