Beleaguered Aegis IT Limited has been acquired by Technology Services Group (TSG) in a move that safeguards five jobs.
Administrators were appointed to Newcastle Quayside-based Aegis at the beginning of April before rivals TSG acquired the trade and assets in an undisclosed deal.
All of Aegis’ five-strong workforce have transferred to TSG following the deal, which was arranged by insolvency specialists Begbies Traynor and Quantum Corporate Finance.
David Stonehouse, chief executive of TSG, said: “Given the quality of both the customer base and the team, there was a high level of interest in acquiring Aegis.
“Both the team and the customers fit perfectly with delivering our strategy to increase penetration in the mid-market, most importantly sharing our consultative approach and a deep understanding of technology.
“I’m also delighted that the staff are so enthusiastic about the opportunities for development and career progression that we can offer at TSG.”
Aegis’ customer base includes Turner Broadcasting, the company behind Cartoon Network, security giant G4S and The Hotel Collection.
Having beaten off regional competition to the acquisition, Mr Stonehouse hopes Aegis’ staff will strengthen TSG’s mid-market business offering.
The team of five, including director Dave McPherson, have now moved from Aegis’ former Newcastle Quayside premises to TSG Gosforth headquarters.
Just four years ago Aegis employed 18 staff and had hoped to create around 40 jobs on the back of its contract with Turner Broadcasting.
The firm have worked on a number of large contracts and launched their own products such Aegis Learning — a remote learning tool which uses speech biometrics to facilitate learning from any device, anywhere in the world.
Andrew Haslam, of Begbies Traynor, a joint administrator of Aegis, added: “It’s great news that following a successful sale process, we were able to secure a deal that not only rescued the business but gave continuity to the Aegis staff who are to be integrated into the TSG team.”
The deal marks the return of Quantum to the North East market. Quantum is led by Chris Appleby and David Bell, who were joined by Abu Ali last month.
Mr Ali, who led on the TSG deal, added: “Aegis has a great technical pedigree, an impressive team of experts and an enviable list of clients. TSG has acquired a significant collection of assets in this deal which will no doubt help the business deliver its ambitious growth plans.”
TSG employs around 400 in offices around the UK.
The company, which was formed in 2003, holds six Microsoft Gold competencies and continues to make significant investment in the development of its own managed IT services solution SystemCare.