Washington firm in £10million takeover

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A WEARSIDE firm is under new ownership after a £10m takeover.

Onyx Group has announced the acquisition of Knowledge IT, a Washington-based ICT solutions and support firm.

Since 2000, the group has completed five major acquisitions and was set to exceed a turnover of £20million in 2014.

Onyx, which employs 170 people, say the acquisition of Knowledge IT will boost its plans to become a national £100million revenue IT support and services business in the next five years.

Neil Stephenson, CEO of Onyx Group said: “Increasingly over the past two years, customers have been asking us to manage their entire IT infrastructure, as well as providing resilient solutions to complex cloud and hosting requirements.

“The Knowledge IT team has a great reputation for delivering these services and this deal will make the Onyx propositions and reach stronger for both sets of customers.”