Forbes Media announced Monday the acquisition of British online business publication The Memo for an undisclosed amount.
The deal will result in the first full-fledged editorial team that’s focused on European content, with The Memo founder and editor Alex Wood taking on the role as European editor.
Forbes plans to use The Memo’s editorial staff to strengthen its presence in Europe and its European content on Forbes.com. Forbes will look to further expand its coverage and contributor network across Europe.
“This is a strategic acquisition and part of a multiplatform initiative to grow and better serve our European readers and marketers alike,” said Forbes chief executive officer Mike Federle in a statement. “The formation of an official editorial team in London is an important element of this strategy.”
As part of the acquisition, the majority of The Memo’s content will be transferred to Forbes.com and will sit on the Europe-specific homepage and sections. As of the March 1, The Memo site will redirect to Forbes.com.
The Memo, which launched in April 2015, has more than 630,000 unique visitors per month.
