Options for Pretzel after 303 deal

STEVE Pretzel will remain in the IT game following the sale of the web business he founded more than 10 years ago to advertising agency 303 Group last week. While owned by Pivod Technologies, Mr Pretzel engineered the sale of Pretzel Logic to 303 after he decided to quit the business to concentrate on developing a $50 million indoor ski park and his small consultancy business. Pivod bought Pretzel out of administration in 2003. Mr Pretzel and his wife, Valerie, have set up consultancy PX2. Mr Pretzel said the company would remain small. “We didn’t want to walk away from the experience we gained in the past 30 years,” Mr Pretzel said. “We will take on a number of direct clients rather than create a big business.” Mr Pretzel will also be available as a consultant for 303. 303 managing director Nick Cleaver said acquiring the Pretzel was the first step in developing a specific online agency. “It is a very natural acquisition for us because a lot of our clients are serviced by Pretzel,” Mr Cleaver said. He said 303 was interested in further acquisitions to develop its web presence.

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