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Sage founder buys computer reseller
Graham Wylie, founder of Sage,Newcastle-based accounting and business software giant, is back in business once more, less than six months after bailing out of the firm he ran for 22 years.
The 43-year old entrepreneur said his latest venture, dubbed Technology Services Group, will see him turn from software to IT services. The plan centres on building up the business of Joynson, a small Gateshead computer dealership with "around 800 customers" that he has recently bought.
"My aim is to make Technology Services Group the IT supplier of choice in the North-East. The Joynson acquisition is the cornerstone of this strategy and we will be expanding the business," Wylie told the Northern Business Daily.
The tycoon refused to let on how much of £115m he made last week by selling a five per cent stake in Sage was spent on the Joynson acquisition. "I have only just bought the business. I will spend the next 30 days reviewing it and seeing what I can do. I honestly do not know more than that," he said.
Wylie, who left Sage five months ago to get married, would not provide details of how he intended to expand Joynson's operations. He did, however, assert that the UK IT services market offers an attractive commercial target because he believes there is potential for consolidation among the many small players that currently play in the sector; and because the Government is trying to encourage firms to roll out ebusiness systems.
"People say I am crazy to do it because I don't need to, but I want to make it a success," Wylie said. ®