The move will capitalise on the assets and develop synergies between technology and data company Mortgage Brain, which has over 20,000 users, and digital publisher AE3 Media.
AE3 Media will continue to operate as an autonomous mortgage and personal finance publishing and events company from within Mortgage Brain Holdings, with governance agreements in place to ensure editorial integrity and independence are maintained.
Mark Lofthouse, CEO of Mortgage Brain (pictured), said: “The combined expertise of the larger organisation will facilitate investment and growth in both the existing portfolio and new product development.”
“Managing director Iain Cartlidge, its chairman, Bharat Sagar, and the management team who have made AE3 what it is today will continue to lead the business, deliver what customers want and ensure its future success.
“The business combination brings together two well-respected leaders in their fields and the resulting combination of mortgage and personal finance content, events and market leading technology is unique.”
Iain Cartlidge, managing director, AE3 Media, said: “I am delighted with the deal and the prospect of working with the Mortgage Brain team to continue to develop the existing AE3 Media portfolio. This provides us with an opportunity to accelerate our existing plans for the growth of the business.”
The buyout means the group will offer more engaging and personal communications to the mortgage intermediary.
The deal completed on 1 July for an undisclosed sum.
There will be no redundancies, office moves or cost-cutting as a result of the deal.
