NATIONAL technology provider Onyx has been recognised as one the fastest growing companies in the country.
The Stockton-based firm is ranked 96th in the new Sunday Times Microsoft Tech Track 100 league table, which measures the fastest sales growth among technology companies over the last three years.
Onyx recorded sales of £14.8m in the year to last December and has seen revenues jump by 37.7% in between 2007 and 2010.
CEO Neil Stephenson said: “This is the second year we’ve been in the league table out of the last three.
“Given the economic climate it’s a great accolade to be ranked as one of the fastest growing companies in the country.
“This year will be another year of growth in terms of revenue and profitability.”
After posting its first profit in 2010, the company is aiming to ramp up revenues to £17m this year and earnings to around £3m.
Mr Stephenson remained tight-lipped on profit projections but said margins would be “significantly” greater than the £1.7m operating profit recorded last year.
He also said cloud computing, which allows customers to download information from ‘virtual servers’ on the internet, was becoming an increasingly important part of the business.
Employing around 115 staff, Onyx has been a major Teesside success story, investing in state-of-the-art premises in Portrack and winning the Company of the Year at the 2009 nebusiness awards. It has worked with some of the world’s biggest blue-chips - including Microsoft, Cisco and IBM - and recently struck an exclusive partnership with SAP, the world’s largest software company.
Under the deal the Stockton group will become the first hosted provider of the SAP Business One software in the UK.
The move will allow bosses to download the business management tool from an off-site system hosted by Onyx, rather than having to buy and install it on a server in their office.
The Teesside firm has fast-tracked growth through a series of acquisitions, at one stage snapping up five companies within 18 months.
Mr Stephenson said he was on the look-out for further acquisitions, although no deal was imminent.
