Takeover brings investment

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A TECHNOLOGY company with a base in South Yorkshire has been taken over for £27 million by rival firm ISIS - which has announced £15 million of investment to grow the business.

Onyx Group, established in 1994, has 10 sites including one at Manvers, Dearne Valley.

The news comes at a time when the Government has been urged by the British Software Alliance to invest more in the technology sector as it looks for routes to recovery. The UK IT sector is expected to be a solid performer, already contributing £102bn to the country.

The deal will help Onyx to push ahead with ‘ambitious plans’ to expand the business.

Neil Stephenson, chief executive of Onyx, said: “The news will bolster our position as a leading provider of IT.”