Xerox buyout opens up Irish market

Printing giant Xerox has branched out into the Irish market by sealing a deal to acquire Cork-based Irish Business Systems (IBS) for an estimated $31 million (£19.63m).

The acquisition of IBS, which will hang on to its name and headquarters in Cork, will unlock a significant customer base for Xerox. The firm aims to take advantage of the IBS's reputation for providing digital imaging and printing services in the country.

Douraid Zaghouani, senior vice president of European channels group at Xerox Europe, said: "With this acquisition, Xerox will increase its presence in all parts of Ireland. IBS is a strong office technology and managed print services provider in Ireland. Their extensive distribution and customer support complement the benefits of Xerox's technology and solutions."

Following the buyout, IBS, which will operate as a wholly-owned subsidiary of its new parent company, will sell off its range of Xerox products, including all Phaser, WorkCentre and ColorQube printers.

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