Parity Group Plc, an AIM listed company providing technology solutions to government and industry has acquired the business of VFX specialist Golden Square in a pre-pack administration.
The business will continue to trade as Golden Square in the Parity Digital Solutions division of the public company.
The founders of Golden Square Phil Gillies and Alan Young will continue to head up the business, which will report to the CEO of Parity Digital solutions MarkAndrews.
The Golden Square business will sit alongside Parity’s Inition 3D technology and Systems IT solutions businesses. There will be minimal staff losses at this time as the group has ambitious expansion plans for its Digital division.
Golden Square Founder Phil Gillies commented: “We are incredibly proud to become part of the Parity Group, a real industry powerhouse. This partnership will make the most of our existing offering, while also giving us a fantastic opportunity to expand into other areas.”
Mark Andrews, CEO of Parity Digital said: “we are delighted that Golden Square is becoming part of Parity Digital. It is a prestigious brand with an outstanding team.”
Parity Group Chairman Philip Swinstead added: “We are developing the group into a wider technology company through growth and careful acquisition.”