ICT provider PFH announces €2.5m acquisition

ICT company PFH today announced the acquisition of IT solutions provider Redstone Technology for €2.5m from its UK parent company Redstone plc.

The enlarged business will have annual revenues in excess of €55m and will employ approximately 235 people, the company said.

Redstone Technology is a provider of high-end enterprise storage and server solutions to blue chip public and private sector clients. It was founded in the early 1990s and employs 55 people based in Dublin and other locations around the country.

“The acquisition of Redstone Technology follows a strategic decision by its parent company Redstone plc to reorganise its business and focus on the UK market,” a statement said.

PFH is Ireland’s largest independent Information and Communication Technology (ICT) group and is also the country’s largest privately-owned single-source provider of voice, data and managed services solutions.

The company is headquartered in Dublin with offices in Cork, Limerick and Galway and serves blue chip customers across pharmaceutical, banking, manufacturing, government, education and health sectors.

“This is a strategic deal for PFH which significantly strengthens our position at the upper end of the market for high-spec enterprise storage and server solutions,” said PFH Chief Executive Paul Hourican,”

“This acquisition of Redstone also strengthens our Cloud computing and managed services capabilities. Both will be at the heart of the Smart Economy and we believe that the addition of Redstone Technology to the group will give PFH a compelling proposition in this space,” he said.