Eir snaps up Irish IT services firm Evros in €80m deal

6 Jan 20211.04k Views

Brian Larkin of Evros Technology Group with Carolan Lennon of Eir. Image: Chris Bellew/Fennell Photography

Eir’s CEO said the deal is an important step in its ‘ambitious investment strategy’.

Eir is acquiring Irish IT services provider Evros in a bid to strengthen its portfolio of enterprise communication services. The transaction is valued at €80m, Eir said, subject to future business performance.

Evros was founded in 1990 and now has more than 450 employees and contractors at offices in Dublin, Cork, Waterford and New Zealand.

The company, which generated revenue of around €91m last year, helps clients with digital transformation, security, IT managed services, cloud services and more.

Eir said that the newly merged business will provide customers with end-to-end telecoms and IT services, including mobility solutions, networking technology, public and private cloud, security, managed services and IT contracting.

Carolan Lennon, CEO of Eir Group, said that the deal is an important step in the telecoms company’s “ambitious investment strategy for Ireland”.

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Martin Wells, managing director of Eir Business, added that the deal would create “Ireland’s largest Tier 1 telecoms and ICT provider”, serving SMEs, enterprise and Government organisations across the country.

“Connectivity, security and digital transformation have become crucial considerations for Irish businesses in recent years, even more so during the pandemic,” he said. “With this deal, Eir Business can provide innovative technological solutions to address these strategic concerns, allowing businesses to focus on the future with confidence.”

The transaction is now subject to clearance from the Competition and Consumer Protection Commission. When it closes, the Evros team will join Eir Group.

The Evros Technology Group comprises Evros, Digital Planet, itContracting, Comsys, eSource and mySoftware.ie.

Brian Larkin, managing director of the group, said the deal with Eir Business would create “huge opportunities” for his company’s client base and staff.

Eir, which recorded revenue of €1.2bn last year, is also continuing to expand and upgrade its mobile network as part of a €150m investment programme.

Sarah Harford is sub-editor of Siliconrepublic.com

editorial@siliconrepublic.com