The deal to buy Irish IT consulting and managed-services firm Arkphire by US company Presidio has been cleared by the Competition and Consumer Protection Commission.

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

The takeover, announced last month, marked 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 that being part of the enlarged Presidio family will open up many new possibilities and provide the company with a natural partner to support the IT needs of our customers, regardless of where they want to do business. 

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 CEO 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.