IS4BInternet Solutions for Business, Inc. (UK)
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Mr Dixon, who declined to say how much he paid for is4b, said he was attracted by the "websync" part of Mr Shaw's company, which allows customers to update their own sites themselves instead of waiting for technical assistance.
IS4B has already pulled together key elements of its own resources to create a groundbreaking Virtual Museum, which uses the very latest in 3D modelling technology.
IS4B believes that the major galleries and museums are just beginning to profit from Internet-based marketing.
In reality, is4b's US share price fluctuated wildly, finally plummeting from a high of $7 to a few cents.
"The investigation into US share dealings wasn't directed at me - in relation to the shares I received for my majority stake in is4b - as they were never sold in the public market.
'BUILT ON FALSE HYPE': Lawrence Shaw and is4b at Coventry Canal Basin
Now IS4B is looking to expand the website to meet the needs of the commercial property marketplace by including business properties.
Mr Lawrence Shaw, managing director of IS4B said: "We are at the forefront of putting Coventry on the Internet.
IS4B will be trading alongside the likes of Nike, Microsoft and IBM on NASDAQ, opening it up to private and institutional investors.
IS4B and Octopus have worked together for the past three years, combining their technical and design expertise to provide internet solutions for businesses across the country.
All four Octopus staff will join IS4B, and boss Gary Mays, a Warwick University graduate, will become operations director of the entire organisation.