Business software provider Onesys acquires Sage Coretime

York-headquartered business software provider Onesys has expanded with its biggest acquisition to date, supported by funding from HSBC UK.

Onesys Group supplies timesheet, project and billing systems across the UK, Ireland and globally.

The company has used six-figure funding from HSBC UK for the acquisition of Sage Coretime, timesheet and project management software used by the professional services industry.

The deal will grow Onesys’ customer base by 25 per cent, helping it to consolidate its position in the marketplace. The purchase is also set to provide significant savings in the long-term as the business was previously licensing the software from software giant Sage. Going forward the products will be known as Coretime.

As a result of the acquisition, Onesys expects to recruit more than four additional staff at its York HQ and increase turnover of this division by 40 per cent in the next 12 months.

Richard Knowles, managing director at Onesys Group, said: “Our growth strategy is centred on making acquisitions that broaden our customer base, as well as our technical skills and expertise.

“This is the fourth acquisition we have made with HSBC UK’s backing, and it represents a major leap forward for Onesys, as over 800 businesses worldwide use this leading software, with our latest sale today being in Kazakhstan.”

Stephen Smith, relationship manager for North and West Yorkshire at HSBC UK, added: “It’s fantastic to see Onesys continue to meet its ambitious acquisition-focused growth strategy. HSBC UK has worked with Onesys ten years and throughout this period we have seen the business grow into a major player in its industry.”

Onesys Group has six offices across the UK in Birmingham, Newcastle, Bradford, Mansfield, Coventry and London, employing 47 people.

The company, which has a history dating back to 1972, supplies businesses across a range of sectors, but specialises in manufacturers and distributors, as well as the professional services sector.