Universal Music Group has acquired the British classical label Hyperion Records.

Founded by Ted Perry in 1980, the record company will join UMG’s portfolio, taking its place alongside Deutsche Grammophon and Decca Classics.

With the new acquisition, Hyperion Records will remain a stand-alone recording label within Universal Music UK with Simon Perry remaining as its Director.

In a statement, Universal said, “Hyperion is a jewel of a label, and we are committed to continuing the magnificent work done by the Perry family and to preserving and building on the special place Hyperion occupies in the hearts of artists and music fans alike.”

Meanwhile, Hyperion’s Perry added, “I’m thrilled to bring Hyperion to Universal Music Group, a company that shares Hyperion’s commitment to bringing the most distinctive and brilliant musicians to as wide a public as possible. By being part of UMG, while keeping our artists and staff together, we can continue to build on my father’s legacy and that of everyone who’s been part of the Hyperion family over the past 43 years. My debt to all of them is huge and I look forward to leading this incredible label into an exciting new chapter.”

Over the years Hyperion has worked with such artists as Steven Isserlis, Sir Stephen Hough, Angela Hewitt, and Steven Osbourne, among others.