Xerox has acquired Irish Business Systems (IBS) for approximately $31 million (21m), expanding Xeroxs reach right across Ireland. IBS, with eight offices, is a managed print services provider and the largest independent supplier of digital imaging and printing solutions in Ireland. Founded in 1972, and headquartered in Cork, IBS currently sells products from another supplier and will start selling Xerox document management products immediately.
By acquiring IBS, Xerox will increase the number of people selling Xerox solutions and gain access to more than 11,000 customers across Ireland including Dublin, Belfast, Cork, Galway and Limerick. Over the last two years, Xerox has expanded both its distribution to the SMB market and managed print services delivery capability through acquisition and broadened relationships with resellers and concessionaires in Europe.
With this acquisition, Xerox will increase its presence in all parts of Ireland, said Douraid Zaghouani, senior vice president, European Channels Group, Xerox Europe. Channel expansion continues to be a key aspect of our strategy in Europe. This is our second acquisition in Europe in the last two years. IBS is a strong office technology and managed print services provider in Ireland. Their extensive distribution and customer support complement the benefits of Xeroxs 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 over time sell the full range of Xerox products and supplies, including all Phaser, WorkCentre and ColorQube printers and multifunction systems that print, copy, fax and scan.
Xeroxs acquisition of IBS is great news for both our customers and our employees. said Jerry Carey, Group Managing Director, Irish Business Systems. We can now offer all the benefits of Xeroxs brand leading products and managed print services expertise to our customers.
IBS will operate as a wholly owned subsidiary of Xerox. Founder, Jerry Carey will continue to lead the company, reporting directly to Douraid Zaghouani, senior vice president, European Channels Group, Xerox Europe, and work in parallel with Xeroxs other distribution channels in the region. IBS will maintain its name and keep its headquarters in Cork. Its employees will continue to operate as part of IBS.
The acquisition, Xeroxs eighth in the last two years, is an all-cash transaction.
Xerox currently employs over 700 people in the Republic of Ireland and Northern Ireland, in Dublin, Belfast and Dundalk, who are engaged in manufacturing, technical support, finance and treasury and sales and marketing activities.