Caribiner, the US company which bought Imagination’s Atlanta business, is still hungry to buy design companies after making its first European step in a global development strategy.
The company has acquired UK conference and events company Spectrum Communications for an initial price of 3.2m. The deal includes Spectrum’s Dubai offices and MWA, which was bought by Spectrum in 1992 and is also a conference and events company.
“The acquisition of Spectrum is the first in a series of market development plans to make sure Caribiner have a strong presence in the UK and the rest of Europe,” says Brian Shepherd, Caribiner’s executive vice-president. Shepherd led Imagination’s Atlanta office before Caribiner bought Imagination Atlanta last September. He is responsible for Caribiner’s international expansion.
Multimedia, 3D design and communications companies are also being targeted for acquisition. Spectrum will aid Caribiner’s team in identifying “strong, healthy firms working in the right areas to acquire”, adds Shepherd.