Based in the heart of one of the world's most exciting technology clusters, our dedicated Technology division specialises in executive assignments with early-stage ventures and established technology companies.
With an extensive network of contacts and an in-depth understanding of the growth issues faced by technology companies, we are perfectly placed to assist our clients with the vital task of building a first-class management team.
The Technology division is headed up by David Boorman and Ian McLoughlin. David specialises in Board appointments and senior roles across Business Development, Marketing and Product Management, with a particular emphasis on high-growth technology companies.
I suppose "based in" means "located in" here. Am I correct?
Also please explain the other emboldened parts.
#2 It means that in this location there are groups of companies which are doing interesting and exciting research and development into technologies, probably to do with computing.