iCrossing's DNA is in search, which represents consumer interest and intent
New York (PRWEB) July 30, 2007
iCrossing Inc., a global digital marketing company, announced it has acquired Web development agency Proxicom, Inc. The acquisition creates the largest privately-held digital marketing company. AdMedia Partners (http://www.AdMediaPartners.com), a New York financial advisory firm specializing in mergers and acquisitions for the advertising and marketing services, media, and related interactive, online and information services businesses, represented iCrossing in the acquisition.
The deal combines iCrossing's best-in-class digital marketing services and technologies with Proxicom's world-class Web and application development services to create the largest privately-held global digital marketing company. With Proxicom, iCrossing Inc. will now account for more than $100 million in net revenue, with 550 employees in 12 offices in the U.S. and U.K.
"iCrossing's DNA is in search, which represents consumer interest and intent," said Jeffrey Herzog, founder and CEO, iCrossing. "Proxicom's DNA is in driving superior brand and user experiences. Together, we are poised to define the next generation of digital marketing by creating experiences - whether they are through the Web, mobile or emerging channels - that are driven by the consumer perspective."
"Digital marketing is big and only getting bigger," said Ren Riley, general partner, Oak Investment Partners and iCrossing board member. "With this acquisition, iCrossing leaps to the head of the pack. Proxicom's Web expertise, combined with iCrossing's vision and track record in digital marketing puts the company in an ideal position to not only serve the current requirements of the Fortune 500, but also to be a defining force in the future of digital marketing."
Founded in 1991, Proxicom creates award-winning Web sites for blue-chip brands including Toyota, Chevron, Dupont and Epson. As a result of the acquisition, iCrossing Inc. will add office locations in Los Angeles, Irvine, Calif., Reston, Va., and Detroit. The companies will combine office space in San Francisco, New York and Chicago. Proxicom will retain its brand and be led by Blue Van Dyke, Chief Operating Officer, Proxicom.
"Looking at the digital marketing landscape, the most successful companies are those that understand the importance of the total customer experience," said Van Dyke. "iCrossing and Proxicom know how to make the online channel work for big brand clients. Together, we will develop and implement strategies that engage the end user and raise the ROI bar even higher."
Today's news follows last week's announcement that Goldman Sachs and Oak Investment Partners led a $62 million investment in iCrossing. In the last six months, iCrossing has experienced significant growth. In addition to a number of big account wins - including Travelocity - the company has strengthened its offering and expanded geographically through the acquisitions of San Francisco-based paid search agency NewGate Internet, U.K. search and social media agency Spannerworks, and marketing technology provider Sharp Analytics.
AdMedia Partners, a New York financial advisory firm specializing in mergers and acquisitions to the advertising and marketing services, media, and related interactive, online and information services businesses, represented iCrossing in the acquisition.
About iCrossing Inc.
iCrossing Inc. is the largest independent global digital marketing company. Through its operating units - flagship digital marketing agency iCrossing, user and brand experience agency Proxicom, U.K.-based search and social marketing agency Spannerworks, and marketing technology provider Sharp Analytics - the company combines world class digital marketing services with innovative digital marketing technologies to connect global brands with their customers. iCrossing Inc.'s clients include Travelocity, Toyota and 40 of the Fortune 500 including The Coca-Cola Company, General Motors, Chevron and DuPont. Headquartered in Scottsdale, the company has 550 employees in 12 offices across the U.S. and U.K. Learn more at http://www.icrossing.com.
Proxicom is a world-class Web development agency. Through a combination of creative, technical and analytics, the company delivers superior brand and user experiences that drive results for global brands online. Developing online solutions for blue-chip clients since 1991 - including Chevron, DuPont, Mazda North American Operations, GMAC and Toyota Motor Sales - Proxicom has built deep vertical industry expertise in automotive, healthcare, financial services and consumer packaged goods industries. An operating unit of iCrossing Inc., the largest independent global digital marketing company, Proxicom has seven office locations including Chicago, Detroit, New York, Irvine, Calif., Los Angeles, Reston, Va., and San Francisco. Learn more at http://www.proxicom.com.
About AdMedia Partners
AdMedia Partners is a leading boutique financial advisory firm that provides middle market mergers and acquisitions advisory services to advertising and marketing services, media and publishing, and related Internet businesses. Founded in 1990 and located in New York City, the firm has completed over 150 transactions worth over $5 billion since 1999.
Select recent Interactive and Internet Marketing transactions completed by AdMedia Partners include:
- Representing Refinery, an interactive marketing solutions agency, in its acquisition by WPP's G2 Worldwide.
- Representing Ignite Health, a leading interactive healthcare marketing agency, in its acquisition by inVentiv Health.
- Representing Spannerworks, a leading U.K. search engine marketing agency, in its acquisition by iCrossing.
- Representing New Media Strategies, a leading online word-of-mouth marketing agency, in its acquisition by Meredith Corporation.
- Representing Genex, an interactive marketing services firm that specializes in online customer relationship marketing, in its acquisition by Meredith Corporation.
- Representing Medical Broadcasting Company, one of the largest independent interactive healthcare agencies, in its acquisition by Digitas Inc.
- Representing Bridge Worldwide, an interactive relationship marketing agency, in its acquisition by Wunderman, a unit of WPP Group.
- Representing Dynamic Logic, the leading independent marketing research company, in its acquisition by Millward Brown, a unit of WPP Group.
- Providing strategic advice to aQuantive in its acquisition of sbi.razorfish.
- Representing Impulse Marketing Group, an online lead generation affiliate marketing company serving the financial services industry, in its acquisition by an undisclosed buyer.
- Representing CFM Direct, a leading direct marketing agency, in its acquisition by Merkle, a leading database marketing agency.
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