Tyneside's TSG acquires Aylesbury firm in 'multimillion-pound' deal

IT provider TSG has expanded its UK footprint with the acquisition of an accounting software firm in the South East.

Gateshead-based TSG's purchase of Aylesbury-based Dayta is described as a multimillion-pound deal which will expand its reach into the education market. Dayta is a provider of accountancy software and financial management systems to schools and multi-academy trusts throughout the country.

Its 17 staff will join TSG's workforce of more than 250, across offices on Tyneside, in Glasgow and London, with a number of new jobs said to be in the offing following the deal.

The move follows a management buyout at TSG, announced earlier this year, in which CEO Rory McKeand and senior leaders at the firm partnered with investor Pictet Alternative Advisors which injected a significant amount into the business. That deal saw the exit of founders Sir Graham Wylie and executive chairman David Stonehouse, as well as other shareholders.

In recent years the tech firm has seen the company record double-digit growth