A Tyneside IT assist and telecoms firm has been snapped up in an undisclosed deal by a Hampshire workspace tech group.
Diamond Group, primarily based in Gateshead, has been acquired by Agilico, headquartered in Chandler’s Ford with bases throughout the UK, in a deal which its new house owners mentioned provides an additional £2m of revenues and over 500 clients to the enlarged group.
Diamond was first arrange in Boldon in 1992 as Diamond Enterprise Techniques, later including divisions for IT, communications and asset finance. Its transfer to its head workplace was aided by a grant from the Let’s Develop Fund, which was run by The Journal with BE Group – now generally known as generally known as UMi – and UNW again in 2016.
The enterprise now kinds a part of the Agilico group of corporations, which just lately rebranded from DMC, which provides managed print companies, data administration, agile working expertise, telecom and IT companies and primarily serves the authorized, insurance coverage, finance and schooling sectors.
The acquisition additional strengthens Agilico’s northern area, which is headed up by regional managing director, Warren Colby.
He mentioned: “I’m delighted with this acquisition – the crew right here within the north has identified Diamond for quite a lot of years and to have their individuals on our aspect is admittedly compelling.”
Agilico CEO, Simon Davey, mentioned: “our technique is to construct a UK vast, SME targeted enterprise that may present our clients with a terrific set of services and products.
“We all know that Diamond has a customer-centric tradition and that’s simply what we’re on the lookout for in our acquisition plan.”
Luke Kingston, accomplice at Horizon Capital, mentioned: “This acquisition demonstrates Agilico’s continued alternative to develop by way of extremely complementary acquisitions alongside continued natural development. Diamond Group represents one other top quality addition to the platform, and we look ahead to persevering with to assist the Group on its development journey.”