SALISBURY-based vehicle information business HPI has been sold to mileage verification firm IMVA in a move which will see the new organisation expanding its Wiltshire base.

Currently in Hull, IMVA will be moving its operations to Salisbury with the new venture operating under the name HPI Group.

HPI employs 160 staff in Salisbury with staff set to be joined by the IMVA National Mileage Register operations and further opportunities for growth in the future.

"Establishing our headquarters and maintaining the company infrastructure in Salisbury will ensure the continuity of operations,'' said chief executive Martin Rowley. "New investment in systems, products and services will confirm HPI's position as a major employer and contributor to the local economy.''

As chief executive of the new HPI Group Mr Rowley heads a management team with vast retail motor industry experience. Former IMVA managing director Simon Walker and Paul Leo will be working alongside existing HPI staff in the new group.

"The team means the new larger company will have an extraordinarily strong leadership to drive forward our ambitious plans for new products and services,'' he said.

Finance for the deal and future plans has included investment from 3i in the South. "Our significant investment in this deal demonstrates our commitment to supporting innovative companies such as IMVA and HIP,'' said Owen Sennitt from 3i. "This acquisition will ensure the continued success of an important and highly specialised business service and marks an exciting new stage in the company's development.''