A company which specialises in running innovation centres is set for nationwide expansion after a major takeover deal. SQW, which owns Oxford Innovation, has bought regional technology park operator Fasset for an undisclosed sum.

As part of the deal the number of innovation centres run by SQW based at Mill Street, Oxford, will increase from 12 to 14, with plans to develop the network across the country as a team of senior managers from Fasset transfer to Oxford Innovation.

SQW group chairman Ian Laing said: “The deal will position Oxford Innovation to scale up its existing network of innovation and enterprise centres, while also developing this successful business platform to include business centres and managed workspace in future.”

Chris Allington, formerly managing director for business development at Fasset, becomes managing director of the Oxford Innovation Centres business, and a member of SQW Group’s executive board.

Matt Harrington joins as commercial director and Dianne Heath joins as programme manager.

Mr Allington said: “It is a privilege to have been asked to lead the combined organisation and to grow the Oxford Innovation Centres business into a national network.”