Philip Toledo acquired by Hili Group

Motherwell Bridge, the engineering arm of the Hili Group Of Companies on Tuesday announced it had agreed to buy Philip Toledo Ltd. for an undisclosed sum in a cash-for-stock transaction.

Philip Toledo generated €6.5 million in revenue last year and counts government entities, Banks and a number of large corporates amongst its customers. The privately held company is a partner for IBM, NCR, CISCO, Access Accounting Software and Retail Pro amongst others.

It has a strong legacy, with over 60 years in the ICT Business, and is widely acknowledged as one of the leaders on the local ICT scene. The company today employs in excess of 100 ICT specialists and support staff and is set up to cater to customers in North Africa and the Middle East.

The acquisition is a further step in the diversification of the interests of the Hili Group Of Companies. It further strengthens the Group's portfolio which already includes maritime-based logistics handling, port operations, a developmental licensee of the McDonald's corporation, property development and engineering.

Melo Hili, the newly appointed chairman of Philip Toledo Ltd. said the deal was a "perfect fit" for the Hili Group and meets its objective of adding a strong Tech arm to its portfolio. Mr Hili said he was confident that Philip Toledo Ltd. would continue to grow its revenues and market share whilst consolidating its reputation as a leading ICT partner.