Forbes Media has put down roots in the UK with the acquisition of business mag The Memo. Its founder and editor Alex Wood becomes European editor of Forbes.
The publisher said that the acquisition will enable it to grow its base in Europe and will bring The Memo’s coverage onto Forbes.com. Furthermore, underpinning the move is a desire to expand its contributor network across Europe.
Mike Federle, chief executive officer at Forbes, said: “This is a strategic acquisition and part of a multiplatform initiative to grow and better serve our European readers and marketers alike. The formation of an official editorial team in London is an important element of this strategy. We welcome Alex and his talented team to Forbes.”
Forbes' London-based team will move to new premises to accommodate the team from The Memo. From 1 March, The Memo website will redirect to Forbes.
Wood said: “I’m excited to join forces with Forbes – one of the world’s most renowned media brands – to form its first full-fledged European editorial team. We will cover all corners of the continent and I look forward to sharing the stories of entrepreneurs and business success in Europe with Forbes’ global audience.”