PFH Technology Group acquires Redstone Technology for €2.5m

CORK-based PFH Technology Group has acquired IT firm Redstone Technology for €2.5m from its British parent company, Redstone plc.

Redstone provides enterprise storage and server solutions to blue chip public and private sector clients in Ireland. The enlarged business will have annual revenues in excess of €55m and will employ 235 people.

PFH chief executive Paul Hourican said: “This deal strengthens our position at the upper end of the market for high-spec enterprise storage and server solutions. It also makes sense from a geographical point of view and it will enhance our capability in the greater Dublin and Leinster areas. It also brings us into Northern Ireland for the first time, and strengthens our cloud computing and managed services capabilities. Both will be at the heart of the smart economy and the addition of Redstone Technology to the group will give PFH a compelling proposition in this space.”