TheBusinessDesk.com has been acquired it has announced by investor Mark Hales (pictured left) as it aims to expand further across the UK.
The acquisition will see founders of the online news business founded in November 2007, David Parkin (pictured right) and Paul Snape sell their stakes in the business, with Hales now holding all of the business equity.
The price of the acquisition has not been disclosed, although the announcement has claimed that a six-figure investment will be made in adding to the 12 journalists and sales staff, while new products will be introduced and new regions entered.
Parkin will continue to work within the company as a director.
Commented Hales: “TheBusinessDesk.com is already a great premium publishing brand and with the experience I have of developing technology businesses we can take big leaps forward from the foundations the team has put down in its three key UK markets. We will invest in a new desktop and mobile site as well as bringing in new products, and we plan to expand our events business significantly, and then plan to take the service to new regions within the year."
The publication, which originally focused on Yorkshire, expanded into the North West in 2008 and the West Midlands in February 2010, when Hales made his first investment in the company.