Press Release Argon Acquisition

Press Release Argon Acquisition

14.00hrs, 24/10/2019

The following statement is issued by Iain Fairbairn on behalf of Argon

Argon are pleased to announce the acquisition of Skanco Business Systems and sister company Restart Limited. These acquisitions bring together two of the Island’s oldest technology companies to create probably the largest IT Service Provider on the Island.

In completing the deal, Iain Fairbairn, Managing Director of Argon stated “this brings together two of the Islands leading technology providers, creating a very strong technical team with many years of knowledge and experience. The combined business will be stronger than the respective components as there are many synergies, complimentary skills and benefits to the deal, none more important than the ability to enhance the service and solutions we can offer our combined client base.”

While both company’s offer business technologies, the service bias has, over the years, been different; with Skanco leading primarily in IT and Disaster Recovery, and Argon offering these services, together with being a leading supplier of Managed Print Solutions and Data Cabling.

Fairbairn further added “Together the business will have a Technical team of almost 30 and the skill sets of the two teams compliment each other incredibly well. We believe this is key to future success particularly as clients increasingly require Everything as a Service. The strength of the team, and the various specialists within the business will make ensure we can deliver this.”

He stated “It was a unique opportunity to bring together Argon and Skanco. I recognise and appreciate the many years of hard work invested by the Skanco Board, Shareholders and staff to create and develop the business, building a long standing customer base and respected reputation. As we are reminded on regular basis, corporate consolidation in the technology market is happening at all levels as the major players globalise their services and solutions; the Island needs strong local businesses with the scale to compete; this deal provides this platform.”

The acquisition creates a united business which is both the largest supplier of IT Services and the leading supplier of both physical and virtual business continuity solutions on the Island. Additionally, Argon is already one of the leading suppliers of Managed Print solutions all complimented by one of the most respected Data Cabling teams on Island.

The primary Operational base for the enlarged business will be Restart Court on the Isle of Man Business Park complemented by the Disaster Recovery facilities and Administration base at Argon House, Freeport. Looking forward the businesses will come together under the Argon brand. The facilities at these two locations, enables Argon to be one of only two island business with the ability to offer in house resilient Dual Datacentre facilities providing an excellent platform for Dedicated Cloud solutions and on Island Hosting.

The combined business will have a total staff of 37 with almost 30 of these roles being technical roles.

He further commented “This skills within the enlarged business will enable us to keep pace with the dynamic technology environment and enable Argon to continue to provide competitive solutions and value to our many island clients. It also provides a strong Island Head Office from which to develop the exporting of services to the UK and internationally, particularly Dedicated Cloud, Cyber Security and Managed Print services.”

Iain Fairbairn further wished to thank Leigh Kennaugh of LK Accounting, for his help with the Due Diligence processes; which was performed with professionalism and discretion.