LIMERICK computer support company Asystec has been acquired by information technology services firm Ergo in a €25 million deal.
Established by Les Byrne in 2011 and based on the Raheen Business Park, Asystec employs 50 people and has revenues of €40 million.
The acquisition, which is subject to Competition and Consumer Protection Commission clearance, will create one of the largest privately-owned Irish IT services company in the country, with more than 500 employees and annual revenues in excess of €150 million.
Ergo chief executive Paul McCann told The Irish Times that they intend to increase turnover to €250 million over the next three to five years, with staff numbers expected to rise to nearly 1,000.
“This deal gives us greater skills and access to new clients, more breadth of services, makes us more robust and, having been around for 30 years, it will help ensure we’ll be around for at least another 30,” he said.
