Ecommerce firm snapped up by digital rival
A firm which specialises in e-commerce has been acquired by digital agency CTI Digital.
The sale of Lancaster-based Nublue has been completed after six months of negotiations.
The acquisition will see both businesses retaining their separate brand identities.
The deal was supported by accountancy firm Cowgills and law firm Brabners.
CTI plans to increase its service capacity for pan-European clients within the eCommerce space.
And the deal will allow Nublue to keep pace with emerging eCommerce markets by diversifying existing services and taking on new technologies such as Shopware, Shopify and AWS.
Nublue will keep a Lancaster presence, only merging the existing Manchester office with the CTI Digital Manchester Head Office.
Following the acquisition, the organisation will reach 150 staff members within 2019.
Both businesses will maintain their current structures with all senior management retaining their current positions.
The combined company has forecasted turnover to reach £8m by the end of the year.
Nick Rhind, chief executive of CTI Digital said: “When we began negotiations with Nublue, we identified a striking strategic and cultural alignment.
“The team of experts Mike and Tom have built at Nublue are a credit to their knowledge and understanding of the eCommerce landscape. Collectively, we have a host of exciting projects ahead and this announcement is just the start. I’m extremely happy to welcome the Nublue team to the CTI family.”
CTI Digital has been providing web development services for over 15 years.
The agency has seen significant growth since expanding their technology stack and diversifying to provide additional services, such as Marketing and Digital Consultancy.
Following CTI Digital’s 2018 management buy out, the Manchester-based agency has made a significant financial investment to continue to grow the agency’s commerce capabilities.
Nublue, has been working in eCommerce since 2005, specialising in Magento since its launch in 2008.
Michael Ashworth, managing director of Nublue, said: “From our first meeting with Nick, it was very clear that our businesses had real synergy. We recognised the great opportunities that would be made possible by working together.
“Our shared ambition, along with the depth of knowledge and capabilities within our businesses, makes our future possibilities really very exciting. We’re all looking forward to seeing what we can achieve collectively”
“The eCommerce industry is continually shifting throughout all verticals. From the acceleration of SaaS platforms to the proliferation of artificial intelligence, merchants are always looking for new ways to increase efficiency and produce a greater ROI.”