Global document management firm Xerox has acquired managed print services provider Irish Business Systems (IBS) for about US$31 million (€21 million).
The acquisition by Xerox, which employs 700 people across the Republic and Northern Ireland, is set to expand its customer reach across Ireland with access to more than 11,000 customers across the country, including Dublin, Belfast, Cork, Galway and Limerick through IBS offices, of which there are eight in total.
As part of its channel expansion strategy in Europe, this is Xerox’s second European acquisition in the last two years and eighth global acquisition.
IBS, founded in 1972 and headquartered in Cork, sells products from another supplier. It will now begin selling Xerox’s range of document management products.
“With this acquisition, Xerox will increase its presence in all parts of Ireland,” said Douraid Zaghouani, senior vice-president, European Channels Group, Xerox Europe.
“IBS is a strong office technology and managed print services provider in Ireland. Their extensive distribution and customer support complement the benefits of Xerox’s technology and solutions. Together, we strengthen the value proposition we bring to small and mid-size businesses as well as expanding our managed print services offerings.”
IBS will retain its name and operate as a wholly owned subsidiary of Xerox with founder Jerry Carey continuing to head the company while reporting directly to Douraid Zaghouani, senior vice-president, European Channels Group, Xerox Europe.
By Marie Boran