UK Web design company The Webmedia Group has announced its first acquisition. The London-based agency, in which Maurice Saatchi has a stake, has bought Manchester-based Web house, Music Network.
According to Webmedia, the acquisition is consistent with the company?s plans to expand beyond London. Ivan Pope, director of the group, said: ?We have tended to be a bit London-centric up until now.? He added that the purchase of Music Network would provide the company with additional production facilities in the north of England.
Music Network is a Web development company specialising in the production of music-oriented Web sites. Pope cited the Music Network Classified - a listing of over 1,000 musicians, record labels and music clips - as one of the key reasons for the acquisition. However, Tony Martin, founder and managing director of Music Network, will continue to run the company in Manchester and will grow his current team.
Steve Bowbrick, current director of Webmedia, said: ?It is our objective to create an agency structure in Webmedia.? He added that the company would soon be opening offices in New York and Malaysia and expanding its services to include marketing and analysis.
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