PFH Technology Group has announced the acquisition TerraAlto, owned by Cormac Hogan.

TerraAlto, based in Dublin, is an Amazon Web Services (AWS) Advanced Consulting Partner and Managed Service Provider Partner, and specialises in delivering AWS native digital transformation solutions and services.

Established in 2013, the company had two directors and employed 18 people in 2020.

“This acquisition further strengthens our service propositions across the ICT spectrum as digital transformation accelerates,” said PFH chairman Paul Hourican (pictured).

“We are building on our existing cloud capabilities to offer a more comprehensive public and multi-cloud strategy to our clients. The market for private, hybrid or public cloud infrastructure is expanding exponentially, and now PFH is even better positioned to satisfy that demand.

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“We’ve seen revenues increase by 41% in 2021 and revenues in excess of €160m are forecast for 2022.”

Hourican said that PFH has a substantial M&A budget, adding that TerraAlto is the first in a series of targeted acquisitions the company seeks to complete in the Irish and UK markets.

Cormac Hogan (48) commented: “This is a great opportunity for TerraAlto, as part of the PFH Technology Group, to become the number one AWS provider in Ireland and Europe. We will continue to provide fast and flexible delivery of AWS solutions with the additional scale and experience that PFH brings.”

TerraAlto Ltd booked a loss of €28,000 in 2020, after Hogan and fellow director Vladyslava Korolova shared €317,000 in remuneration and €462,000 in pension contributions. Current assets in December 2020 were €475,000.

Deal consideration was not disclosed.

PFH was advised on the deal by EY and RDJ, while TerraAlto took counsel from Eugene F Collins and Tynan Dillon Chartered Accountants.