Motherwell Bridge Ltd., the engineering arm of the Hili Group of Companies has 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 among its customers. The privately held company is a partner for IBM, NCR, CISCO, Access Accounting Software and Retail Pro among others. It has a strong legacy, with over 60 years in the ICT business, and is widely acknowledged as one of the leaders in 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 Midde 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 information technology arm to its portfolio.

Mr Hili told The Times Business he was confident that Philip Toledo Ltd. would continue to grow its revenues and market share while consolidating its reputation as a leading ICT partner. He said said the company would expand overseas to other markets besides those in North Africa and the Middle East.

Philip Toledo Ltd offers a one-stop shop in ICT and security solutions and specialises in system integration, enterprise-wide solutions and contracted outsourcing. The company has also been developing its own solutions drawing on the sector expertise it gained. In the past year, it launched Prospero, a hotel management software application, which is now used widely by hotels in Malta as well as gaining ground in international markets.