Dublin reseller eyes UK for further acquisitions
System Dynamics looks to follow Resolution Technology buy
Irish reseller System Dynamics, which has made a series of acquisitions on home ground, has revealed that it will target resellers in the UK.
Last week the Dublin-based VAR bought Resolution Technology, a joint services venture between IBM and the Associated Irish Banks Group. The deal was for an undisclosed sum, and will see 40 Resolution staff and the company's assets moving into System Dynamics' offices.
Resolution sells development services and solutions, primarily to the financial sector. System Dynamics specialises in financial services, but also sells to corporates and government.
Tony McGuire, managing director at System Dynamics, said: "I approached IBM because Resolution's products played in our space, and I thought it had developed the company as far as it could."
System Dynamics bought two rival VARs last year: Connect Business Solutions in July and Maintenance Controller from ESBI Computing in November.
McGuire said the purchases the company has made so far have been funded by cash and debt rather than equity.
He added that although the firm has been buying only in Ireland, this could change.
"At the moment, it's business as usual. We will look for acquisition targets in the UK over the next six to 12 months, but we're not quite ready yet," McGuire said.
A representative at IBM Ireland told CRN: "Resolution's customer base is largely Irish, so I don't think this will have an impact on the channel in the UK. The transfer of assets will begin immediately."