Open GI buys PowerPlace
Open GI has confirmed the purchase of PowerPlace from parent company Towergate for an undisclosed sum.
Peter Cullum, a major shareholder in Towergate, is also the majority shareholder in Open GI.
When asked if Mr Cullum had been involved in the transaction a spokesperson for Towergate replied: "Given the natural conflict of interest Peter was not involved in the discussions regarding PowerPlace."
Open GI stated that all 48 staff currently employed by PowerPlace will move across, including CEO Nick Giddings.
In turn Towergate revealed that it has signed a three-year deal with Open GI "ensuring the
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