Cork based Milestone Solutions, a manufacturing systems technology services company, has been bought by Irish project delivery business PM Group.

Financial details of the deal have not been made public.

Milestone specialises in implementing digital technology that is used to manage and optimise complex manufacturing systems.

Its products are widely used to ensure efficiency and regulatory compliance across a range of sectors including pharmaceuticals, life sciences and fast-moving consumer goods.

"Combining PM Group's scale and delivery capability with Milestone’s digital systems expertise, will allow us to deliver greater value to our clients both in capital project investments and ongoing facility management," said Will Wilmot, Managing Director of Milestone.

"Together, we can offer fully integrated end-to-end project delivery capability for facilities of the future."

"What excites us the most is that both companies share a very similar culture and vision focusing on our clients’ needs."

With revenues of €18.5m last year, which are forecast to rise to €25m this year, Milestone currently employs around 160.

It operates around the world, with live projects currently in the USA, Belgium and Germany.

Both Mr Wilmot and Operations Director Kieran Nolan are to remain with the Milestone business after the acquisition.

Milestone has previously collaborated on projects with PM Group, the Irish headquartered company with 3,500 employees and over €6bn in capital projects under management.

"Automation and integration services are key components of our growth strategy and acquiring a top-class company in Milestone will accelerate our ability to become an industry leader in this area," said Dave Murphy, PM Group Chief Executive.

"This is a growth area which is highly complementary to our core expertise and will provide additional value for our clients."

"We have experience collaborating with the team at Milestone on projects over the years, which gives us great confidence in how our two businesses will fit together strategically, operationally and culturally."