Irish IT consulting and managed-services firm Arkphire has been bought by Presidio, a North American IT solutions provider.  

Details of the the amount being paid has not been disclosed by either side, but according to ratings agency Moodys, the all cash deal is worth in the region of $142m. 

The takeover marks another major milestone for the Irish technology services company. 

Founded in 1979, Arkphire is now a €160m business with more than 250 employees and serving customers across more than 90 countries. 

The change in its ownership will have no immediate impact on day-to-day business operations of Akphire. 

It said its senior management, including its co-founder and chief executive, Paschal Naylor, will remain in their roles.  

Paschal Naylor said today's news is a hugely positive development for Arkphire, its people and its customers.

He said it equips the company with the ability to extend its global reach and further evolve its service offering to customers in response to their changing needs. 

"Being part of the enlarged Presidio family will open up many new possibilities and provide us with a natural partner to support the IT needs of our customers, regardless of where they want to do business," Mr Naylor said.

Presidio's $3 billion IT solutions and services business has a local presence in over 57 locations across the US, serving about 7,300 middle market, large and government organisations across a diverse range of industries. 

Its chief executive Bob Cagnazzi said the company was attracted to Arkphire by the quality of its portfolio of solutions and services, and the customer-centric culture of excellence that characterised the management team. 

"The acquisition is expected to provide Presidio an opportunity to assimilate Arkphire's best practices into our own in the US, while providing Presidio a platform to scale our ambitions in Europe and Asia Pacific," he added.