Wisetek on hunt for M&A after deal
Cork-based Wisetek Solutions will size up more potential acquisitions in the United States and elsewhere after merging its US arm with a Washington DC-based company, according to founder and CEO Sean Sheehan.
Wisetek, established 10 years ago, announced it has completed the merger of its US operations with Computer Discounters, which trades as Datakillers.
The companies are involved in secure data destruction and the refurbishment of IT equipment for resale. It's thought that the merger is effectively an acquisition by Wisetek of Computer Discounters. The combined Wisetek group now has about 250 employees.
Speaking to the Irish Independent, Mr Sheehan declined to reveal financial details of the transaction.
However, he said that the combined group-wide turnover at Wisetek following the deal will be about €30m. That includes €9m from Computer Discounters and €21m from Wisetek.
The figure at Wisetek will be 20pc higher than in 2016, said Mr Sheehan, who is a former employee at data storage multinational EMC, which is now owed by Dell.
Wisetek recently opened an office in Dubai to service the Africa market. It may also look for acquisitions in Central Europe.