Clarity Ireland, the distribution wing of IT company Horizon Technology Group, is to be sold to British IT distributor Westcoast for €6.2m.
The Reading-based business will also assume Clarity's debt of €9.1m. Clarity, which employs 60 people at its headquarters in Tallaght, had revenues of €118m and profits of €1.4m last year. The firm's clients include H-P, O2, Toshiba, and Fujitsu-Siemens. Westcoast, which already employs 500 people, will retain the Clarity name as well as its management team and Irish staff.
Clarity was established in 1999 following the merger of IT distributors Clarity Computer Distribution and Gericmar.
"We see this as a highly positive move for our Irish customers and staff," Clarity managing director Adrian Foley said. "Westcoast is a specialist IT distributor and understands how the channel works. Clarity can now offer its Irish customer base a complete computing range."
Foley also said the development would further competition in the €500m Irish technology reseller market.
"There are close synergies between the two companies," Clarity Ireland sales director Paul Marnane told ENN. "This move means we will have access to a wider pool of stock, meaning we will be able to offer a wider portfolio of products to our customers."
Westcoast's product portfolio includes desktop PC and notebook products, high end server solutions, network products, and printers. The company was established in 1984 and had revenues of €700m in 2005.
"Working with Clarity we intend to develop and build a very strong Irish business and expand our portfolio of products and services," Westcoast general manager Duncan Forsythe said.
The move is subject to approval by the Competition Authority.
Copyright © 2006, ENN