Oxford design group Marketplace Design has been wholly acquired by nascent AIM-listed marketing communications network Media Square.
The 40-strong environmental specialist will be absorbed into Banc – the advertising and branding group, part of the network’s marketing communications division. Under the terms of the deal, Marketplace chairman Bryan Brown has relinquished control of the group he founded, and will be replaced by Marketplace director Mike Taylor, who took the managing director title, when the deal was finalised last Thursday. Non-executive directors Raymond Turner and Ian Cochrane have also left.
Taylor says the business is likely to be renamed shortly. Brown will take an advisory role.