An e-commerce agency which was established just three years ago has been acquired for a seven figure sum.
Unknown Marketing has been taken over by growing e-commerce technology business MOOT Group.
The acquisition will unite two Staffordshire-based firms and take the projected turnover of the enlarged group to around £50 million in 2022.
As part of the deal, Unknown has relocated its 22 staff to purpose-built office space within MOOT's 80,000 sq ft headquarters on the Tollgate Industrial Estate in Stafford.
Twenty one-year-old Joe Yates, who started Unknown Marketing as an A-Level student in 2019, said: "I met MOOT Group founder Nick Moutter when I was working in a bike shop, I actually sold him and his son a bike, then we got back in touch when we started working with furniture and homeware brand Olivia's – which is part of the MOOT Group.
"Nick suggested that if we joined forces we would be a lot more powerful, so last November we started talking about a potential acquisition, and now we have finally completed the deal."
Over the last 18 months, Unknown Marketing – which works with growing e-commerce businesses including FFS Beauty – has experienced rapid growth.
In that time it has signed some major new clients, such as Revive Collagen, and now, through the acquisition with MOOT, Unknown will be working with many more large clients including Hearst 海角视频 and International 海角视频 Group.
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Joe said: "We are keeping our identity as Unknown Marketing and will continue to do what we do best but we will become much more involved with the MOOT operation and we will help to develop both businesses.
"Our main aim now is to continue to acquire more e-commerce clients and make sure that the work we do adds true value to the brands we work with.
"Going forward, we can only see huge growth both in terms of employment and revenue. Unknown is only going to improve as part of the MOOT Group and with Nick as CEO."
Joe added: "Our acquisition by MOOT not only confirms our commitment to Stafford but opens the next chapter in our story. Together, the two companies are a perfect match."
The acquisition comes just months after MOOT Group secured $18 million of funding to help develop new tech and acquire new brands.
Nick Moutter, founder of MOOT, said: "I'm delighted to welcome Joe and the Unknown team in an acquisition that brings together two fast growing companies.
"Joe has built a fantastic e-commerce agency over the past three years and I'm sure he and his team will add huge value as we continue on our path to become a global e-commerce leader."