Thomson Directories is understood to have been bought out of administration by a newly formed company called Corporate Media Partners Limited, run by the founders of 118 Information.
The Drum has learned that the deal was made within hours of staff being informed of the administration process yesterday (14 August).
The business was acquired by Paul Spinks and Patrick Bradshaw, who also own 118 Information, e-Location, Market Location and 118 Business Information.
“This is a hugely important addition to our existing suite of businesses, and we are excited by the challenge that this acquisition offers. To own such a brand as Thomson Local is hugely satisfying,” said Spinks.
“Thomson Local and Thomson Directories is a major brand in the UK which achieves instant recognition and we are excited by the prospect of delivering a range of relevant advertising, new media and information packages to today’s SME. We also believe that the Thomson Online Directory offering will be a useful resource from which a number of our larger licensing customers can benefit,” added Bradshaw.
Over 200 employees were made redundant as a consequence of the administration.
The acquiring company was formed on 30 July this year according to Company's House.
It is understood that a meeting for staff has been called after midday today to announce the deal.
More on this as it breaks.