iCrossing Inc. Acquires Web Development Leader Proxicom
Acquisition Creates the Largest Privately-Held Global Digital Marketing Company
SCOTTSDALE, Ariz., July 30 -- iCrossing Inc. (www.icrossinginc.com), a global digital marketing company, announced it has acquired Web development agency Proxicom, Inc.
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 (http://www.admediapartners.com/), 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. Find out more at www.icrossinginc.com.
About Proxicom
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 www.proxicom.com.
Media Contact:
Dana Mellecker
646-435-4456
Source: iCrossing Inc.
Web site: http://www.icrossing.com/
http://www.proxicom.com/
http://www.admediapartners.com/
