Forbes Media has announced the acquisition of British online business title The Memo for an undisclosed fee as it looks to expand into Europe.
The American magazine said the deal will result in the founding of its first “fully-fledged” editorial team focused on European content as it looks to increase coverage and contributor networks on the continent.
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The Memo’s founder and editor Alex Wood will join Forbes as European editor along with three other staffers.
The Forbes London office, headed by European managing director Charles Yardley, will also move into a new space in March to support the new editorial team.
The majority of The Memo’s archive of content will be moved to the European sections of the Forbes website. The Memo site will redirect to Forbes.com from 1 March.
Wood judged the media category for 2016’s Forbes 30 under 30 list.
Forbes chief content officer Randall Lane said: “We’re thrilled to be partnering with Alex Wood and The Memo, and thankful that we discovered him through our ’30 Under 30′ list which comprises game-changers across different industry.
“Alex is the perfect person to build Forbes’ editorial reach and brand in the European market.”
Wood added: “As a journalist, I’ve had the privilege of covering Europe’s smartest leaders in business – and in 2015 I decided to take the plunge and become an entrepreneur myself.
“Three years on, I’m excited to join forces with Forbes – one of the world’s most renowned media brands – to form its first full-fledged European editorial team.
“We will cover all corners of the continent and I look forward to sharing the stories of entrepreneurs and business success in Europe with Forbes’ global audience.”