Exclusive: CTI Digital acquires Nublue
CTI Digital has acquired Lancaster ecommerce agency, Nublue, for an undisclosed sum.
The Manchester firm said it had undertaken 6 months of negotiations and business analysis ahead of the move, which it said would strengthen its ecommerce offering.
“When we began negotiations with Nublue, we identified a striking strategic and cultural alignment,” explained Nick Rhind, CEO at CTI Digital.
“The team of experts Mike [Ashworth] and Tom [Ashworth] 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.”
In its most recent accounts to March 2018, Nublue revealed shareholders funds of £258,539, marginally up from £228,101 on the previous year.
“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,” added Michael Ashworth, Managing Director at Nublue.
The companies will continue with separate brand identities and Nublue will remain at its Lancaster base. It will, however, merge its Manchester office into CTI Digital's.
The combined organisation is forecast to have a turnover of £8m in 2019 and 150 staff.
All senior management will remain in place.
“CTI has a superb reputation in the industry. Nublue is experiencing strong growth in the eCommerce space. Joining the CTI family at this time couldn't be more exciting and will significantly enhance the service we offer to our clients” said Tom Ashworth, Technical Director at Nublue.