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Distributor and system integrator Horizon Technology Group has acquired Irish SAP consultant Enterprise Process Consulting (EPC) for ¤2m.
The deal marks Horizon’s second acquisition this year, following its buy-out of equIP, the former distribution arm of virtual network operator Matrix Communications Group, for £10.55m in February (CRN, 6 February).
Gary Coburn, chief executive of Horizon, said: “The acquisition of EPC will strengthen Horizon’s enterprise consulting operation in Ireland. The Irish ERP market continues to experience strong growth. This acquisition will enhance the capability of Horizon’s consulting division.”
EPC has three operating arms: EPC Consulting, which provides SAP project services to Irish and international business; EPC Resourcing, which provides SAP, Oracle and other vendor contract services; and EPC Technologies, the firm’s mobile applications arm.
Jonathan Neilan, principal at K Capital Source, a financial firm that consulted Horizon on the deal, said: “This aligns nicely with the rest of Horizon’s Irish operations. It’s a £2m deal initially, and then a further £1.5m over the next two years, based on a number of undisclosed agreed metrics.”
Marc O’Dwyer, managing director of SAP VAR Irish International Sales, told CRN that he considered Horizon’s acquisition to be an act of defence.
“Horizon is trying to strengthen itself against entry into the Irish market from UK firms in this sector,” he said.
“I don’t believe this is a threat to our business. It’s a good thing overall, and we’ll win off the back of it.”
Last month, Horizon saw its turnover grow by five per cent, compared with 2004 for its financial year ended 31 December 2005. It generated a turnover of ¤294m (CRN, 16 March).
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