Irish IT consulting and managed services firm Arkphire has acquired networking solutions provider Bootstrap for an undisclosed sum.

Arkphire said it intends to create 35 new jobs following completion of the deal. The combined entity will have annual revenues of more than €55 million and Arkphire said it aims to be a significant player in the IT services market with 50 per cent growth in revenue and profitability by the end of 2017.

Bootstrap, which employs 16 people, is one of Ireland’s longest established Irish owned and managed IT firms. It had a turnover of over €4 million for its last financial year.

Arkphire, whose vendor partners include EMC, Dell and Cisco, currently employs 55 people. It has grown significantly in recent year, recording turnover of more than €50 million for the 12 months to the end of this month, up from €30 million a year earlier

The company dates back to 1981 when it was known as Memorex Telex. It has had a number of incarnations since then. Following a takeover in 1998 it rebranded itself as EDS Global Services, before becoming AO Systems + Services Ireland after it was acquired by the German-owned IT provider AO Group in 2006.

The firm returned to Irish ownership in 2009 following a management buyout and relaunched as Arkphire in 2011.

"We have partnered with Bootstrap on a large number of network projects since 2013 and found that the two companies have similar values and business ethos," said Arkphire managing director Paschal Naylor.

“We are really proud to now have the opportunity to work closer with such a great company and team of people as we enhance our technology offering to clients of both companies. In particular, the addition of Bootstrap’s networking experience to Arkphire’s existing capabilities in infrastructure solutions and managed services creates a comprehensive IT solution for our clients,” he added.