Newspaper article The Journal (Newcastle, England)

Airport Deal Drives Onyx Revenues towards PS20m; TECHNOLOGY

Newspaper article The Journal (Newcastle, England)

Airport Deal Drives Onyx Revenues towards PS20m; TECHNOLOGY

Article excerpt

Byline: Iain Laing ? 0191 201 6429 ?

TECHNOLOGY group Onyx is looking to increase its revenues by PS3m after winning a deal to run IT services at Edinburgh Airport.

The Stockton firm has landed a deal to handle a wide range of services for the airport after it was recently sold by BAA to Global Infrastructure Partners for more than PS800m.

It says the deal will be worth PS3m over five years and adds to a series of new contract wins expected to push its annual revenues from PS17.5m to PS20m by the end of December.

Chief executive Neil Stephenson said: "Securing the contract with Edinburgh Airport, Scotland's busiest airport, is great news as it is a high profile client in the UK, and also our first in the aviation market.

"We won this contract because we have the full range of services they need. We have data centres, business continuity centres and we can offer 24/7 IT support, which hardly no one else can. We are also close to Scotland, which has always been key to our growth strategy."

The company has grown strongly over the last five years from a PS5.7m business. It has expanded its range of services with a series of acquisitions of businesses and a string of data centres.

Onyx now operates from 10 sites including Newcastle, Teesside, London, Glasgow, Edinburgh and Sheffield, and has five data centres and six workplace recovery facilities.

It has around 120 staff and more than 2,000 clients.

After a management-led buy-out in October, which saw the Stockton firm's backing taken over by London investors Isis Equity in a PS27m deal, Onyx' management was given PS15m to invest in expansion, through improving its centres and by acquisition.

Stephenson said: "We have invested PS1.5m in improving our data centre in Sheffield this year, and we have been building our cloud software offering. …

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