Paul Yates, the founder of Poynton-based search engine optimisation firm Just Search, has sold the fledgling business he set up in 2004 to Swedish stockmarket-listed Getupdated for £8.8 million.

Yates, who owned the business alongside his sales director brother, Justin, told EN that his Poynton-based firm, which is forecasting a profit of £3 million on turnover of £5.5 million in the year to November, had been tracked by the Swedish firm for more than six months before it made its move. He will take a mix of cash and Getupdated shares, which will make him the third-biggest shareholder in the enlarged venture. Moreover, Getupdated's listed status should allow the firm to raise more funds for expansion.

"That's one of the reasons why we've done the deal. We've already got a sales office in London and we wanted to open in Dublin, but they've encouraged us to use their money to help grow the Just Search brand because they realise how important it is in the market," says Paul Yates.

Earlier this year Just Search, which is based on Adlington Business Park, signed a two-year deal to become the main shirt sponsor of Stockport County FC.

The Yates brothers were advised on the deal by law firm Brabners Chaffe Street.

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