iCrossing Inc. Acquires Web Development Leader Proxicom

30 July 2007

SCOTTSDALE, Ariz. – July 30th, 2007—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 (£49 million) in net revenue, with 550 employees in 12 offices in the US and UK.
 
Founded in 1998 as a search marketing agency, iCrossing has grown to be one of the largest independent global digital marketing agencies. Over the past year, iCrossing has acquired San Francisco paid-search agency NewGate Internet, leading UK search and social media agency Spannerworks, and marketing technology provider Sharp Analytics. The company’s clients include Travelocity and more than 40 Fortune 500 companies such as The Coca-Cola Company, General Motors and Office Depot.

“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 Websites 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.”
 
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.

Today's news follows last week’s announcement that Goldman Sachs and Oak Investment Partners led a $62 million (£30 million) investment in iCrossing.

Category: Press Release