Ergo accelerates new phase of growth with €25m Asystec acquisition
Dublin — 7th January 2022: Ergo is acquiring IT services firm Asystec in a €25m deal, subject to Competition and Consumer Protection Commission clearance, creating the largest privately-owned Irish IT services company in the country with over 500 IT professionals across Ireland, the UK and North America.
The acquisition aligns with Ergo’s strategy to build on public, private and hybrid cloud capabilities. Combining its deep knowledge of Microsoft Azure with Asystec’s expertise in Amazon Web Services (AWS) will enhance the assessment, design and deployment of hyperconverged cloud platforms, data analytics solutions, and a suite of transformation services.
Asystec took less than a decade to grow into a €40m company, providing multinational customers with market-leading expertise in VMware, AWS, and Dell Technologies, including Dell EMC storage. By targeting an acquisition that complements existing expertise in Microsoft and HP technologies, Ergo is scaling up and expanding its role as an enterprise-class service provider of cloud and managed services.
New propositions around the orchestration of public and private clouds will become a market differentiator, enabling organizations to optimize a hybrid combination of services using different technology stacks. Combined revenues will be in excess of €150m and are forecast to grow to €250m over the next 3-5 years, with the number of IT professionals rising towards 1,000.
Paul McCann, CEO of Ergo, said, “This is a transformative deal for the Irish market, the coming together of complementary skills and services from two giants of the Irish IT sector. We welcome Asystec onboard, knowing that natural synergies in our customer-centric focus will make for a perfect cultural as well as technical fit.”
Les Byrne, Managing Director of Asystec, commented, “We are hugely excited to be taking our business on the next stage of its journey, becoming part of Ergo at such a pivotal moment in the evolution of the IT services sector. Together we will be able to map and deliver future-proof IT strategies for fast-changing markets, creating new opportunities for our customers and our people.”
Les Byrne will be joining the board of Ergo along with Aonghus O’Neill, Sales Director of Asystec. The company’s Limerick headquarters and offices in the UK and US will extend Ergo’s geographic footprint internationally, as well as across the island of Ireland.
Paul McCann, who took over the role of Ergo CEO in September, is staying true to his pledge to open up a new chapter in the company’s history at what he believes is a significant moment in the Irish market. “The country is on the cusp of a period of economic growth and I want to make sure that Ergo is part of it. Supplementing our leading-edge technology with Asystec’s, we believe we have the best IT services portfolio in the country and can be a key enabler, helping other businesses to grow and prosper,” he said.
Asystec is Ergo’s fourth acquisition since 2010. The first was CDSoft, deepening its Microsoft expertise around collaboration tools, followed by iSite in 2015, which expanded its CRM practice. The next year saw Micromail brought into the group, one of the largest Microsoft Licensing Solutions Providers in Ireland.
Graham Fagan, Group Director of Enterprise Technology & Cloud Engineering at AIB said “As a long-standing Asystec partner I’d like to congratulate Asystec and Ergo on what I have no doubt will be a very successful venture at an important time for the Irish technology industry. We look forward to working with them in the future.”
About Ergo
Committed to excellence at the intersection of business and technology, Ergo provides award-winning expertise around cloud-first solutions, managed services, IT resourcing and managed print. For almost 30 years we have been making it our business to stay ahead of the curve, enabling clients to harness tomorrow’s technology today.
For further information visit: ergogroup.ie
About Asystec
Asystec is a customer-driven company that differentiates from competitors through unrivalled vendor knowledge and management skills, offering expert, unbiased advice together with cost-efficient solutions. Its goal is to guide customers through every stage of infrastructure and data management projects, from implementation right though to exceptional aftercare service.
For further information visit: asystec.ie
For further information or for additional comment from Paul McCann or Les Byrne please contact:
Ciara Young
Head of Marketing and Customer Experience, Ergo
Tel: 01 8843204
Email: ciara.young@ergogroup.ie
