Irish IT services provider Triangle has acquired Kerna Communications, a local cybersecurity, networking, and managed services provider (MSP).
Triangle, an Information, Communication, and Technology (ICT) company, also is expanding its Ireland presence within 20 new MSP-focused hires. Add in Kerna’s team (14 employees) and the company's overall headcount will reach roughly 100 people.
Triangle expects the combined business to have annual revenue of roughly €26m (approximately US$29.5 million).
Kerna brings complementary security, networking, and managed services solutions to Triangle along with a strong client base and talented team of professionals, the buyer says. Kerna Managing Director Alan Byrne shifts to director of technology for Triangle.
In a prepared statement about the deal, Triangle Managing Director Kieran McCabe said:
“Bringing Kerna under the Triangle umbrella immediately amplifies our long-standing leadership in the ICT service provider market and accelerates our vision of a new model that converges solutions and security. “We expect significant growth from new service offerings and expanded managed services which will be introduced next year, particularly in the areas of Cybersecurity and Cloud, while the larger pool of resources and skills will enhance existing services.”
The specter of Brexit still looms large in the British and European IT sectors. Britain’s withdrawal from the European Union causes considerable uncertainty -- but Ireland’s enterprise agencies will help build resilience and prepare the region for the challenges and opportunities ahead, government officials say. That could bode well for Triangle.
M&A activity in the UK and Ireland has remained consistent. Some recent deals include:
- September 2018: Trilogy Technologies Group acquired Zinopy Security, an IT cybersecurity and workspace virtualization solutions provider.
- June 2018: Irish IT firm Version 1 acquired London HR Transformation, an Oracle cloud services partner, making it Version 1’s sixth buyout of a UK business.
- March 2018: Exigent Networks, Irish Telecom and Netforce merged under a new corporate brand called Paradyn.
- April 2017: Ireland-based Microsoft cloud and Dell EMC partner EMIT acquired Softech for an undisclosed sum.
