Newspaper article The Journal (Newcastle, England)

Onyx Makes a Major Move into Scotland; in Association with RBS

Newspaper article The Journal (Newcastle, England)

Onyx Makes a Major Move into Scotland; in Association with RBS

Article excerpt

Byline: By Iain Laing

FAST-GROWING technology solutions company Onyx Group has bought a leading Scottish IT services provider.

The Middlesbrough company has bought Glasgow plc Campbell Lee in its first major move north of the border. The deal means that Onyx sees its workforce go from 50 to 85, its sales will be boosted by millions of pounds to pounds 12m and its clientbase will grow from 2,500 currently to around 3,000.

Chief executive officer Neil Stephenson said: "This is a very significant move for Onyx as it will enable us to grow the base of our business both in terms of resources, range of capabilities and geographic reach.

"We acquired the company strategically as it is very similar to us. It moves us to have a fantastic spread of clients. We wanted the staff, client base and the business. There will be no loss of jobs."

Mr Stephenson said that the deal, for an undisclosed sum, is part of Onyx's plan to double its sales to pounds 23m within three years and strengthen its geographic reach.

He said Onyx, which specialises in disaster recovery, was still looking to buy more companies and said its focus is both in Scotland and further afield in England.

The firm's plans to float on the stock market to raise more money have been slightly delayed because of the tumult on the markets but may still see a flotation this year.

"The new organisation, which will continue to trade in Scotland under the Campbell Lee brand, will be able to offer a number of tier 3 and 4 data storage facilities and workplace recovery centres in Scotland and the north of England, all linked by a common network jointly owned and operated by Onyx and Campbell Lee.

"This highly resilient network will offer cost savings using the internet and private network services provided by both companies," Mr Stephenson said. …

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