TSG buys Accounting Answers
Technology Services Group has bought its 18th reseller, Southampton and London-based Accounting Answers. The move gives Newcastle-headquartered TSG a bigger foothold in the South - to date it has concentrated on buying companies in Scotland, the North and the midlands.
Established in 1989, Acounting Answers is a Pegasus and Sage specialist employing 40 staff. It also flogs hardware to small and medium-sized business.
TSG was set up in October 2003 by Sage co-founder Graham Wylie, as a vehicle to build a computer services firm with a national footprint, specialising in the SMB sector.
This year, the company secured a £25m facility from Lloyds TSB Corporate Facility to fund acquisitions: it has dipped into this pot to buy Accounting Answers.
Post-acquisition TSG claims an annualised turnover of £44m, 500 staff and 11,000 SMB customers. ®