Xerox buys Cork-based IBS for €21m
Wednesday, 20 January 2010 11:58Xerox has bought Cork-based Irish Business Systems in a deal worth €21m.
IBS, which has eight offices, is the largest independent supplier of digital imaging and printing solutions in the country. Founded in 1972, it currently sells products from other suppliers but will now start selling Xerox document management products immediately.
Xerox said the IBS deal will see it increasing its presence in all areas of the country and is its second acquisition in Europe in the past two years.
IBS will keep its name and maintain its headquarters in Cork. Its employees will continue to operate as part of IBS.
'Xerox's acquisition of IBS is great news for both our customers and our employees,' commented Jerry Carey, group managing director of IBS.
Xerox currently employs over 700 people in Dublin, Dundalk and Belfast.
