PFH buys CK Business Electronics
'Undisclosed event' hurries merger
CK Business Electronics has joined forces with PFH Computers to become one of Ireland's largest independent computer services firms.
Renamed PFH Technology Group, the enlarged company will have turnover in excess of €36m.
Sources close to the deal told ElectricNews.Net discussions had been underway over the past year, but an undisclosed event meant negotiations accelerated over recent weeks. Subsequent to this, PFH is believed to have purchased a majority shareholding in CK.
Paul Hourican, managing director of the new combined firm, said in an Irish Times article on Friday that the two companies were ideal candidates for a merger, as they both provided similar technologies to different market sectors from separate locations.
Both companies are providers of Microsoft Windows-based products and services. PFH concentrates on the hospitality, pharmaceutical and education sectors, while CK serves the health and manufacturing sectors.
All existing staff will be retained with approximately 40 employees based in Galway, 40 in Dublin, and 60 at PFH's headquarters in Cork.
Company director Paul Callaghan told ElectricNews.Net the PFH Technology Group aimed to position itself in the Irish market as an independent provider of managed services for SMBs and larger companies.
"There's a perception out there that a lot of service companies are aligned with the big telcos so we saw a gap in the marketplace for an independent option for businesses. Our only agenda is our customers," he said.
CK, the larger of the two firms, was established in 1980, while Cork-based PFH set-up in 1987.
Apart from Paul Hourican, who comes from PFH, other directors will include Paul Callaghan and Martin Kirrane, who come from CK Electronics, and PFH's John Hickey. Callaghan will be general manager of the Dublin and Galway offices.
Hourican said the company would be in a stronger position to compete for business in what he called an "increasingly competitive market".
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