iCross eyes European expansion for Spannerworks

by James Livesley, Media Week 12-Feb-07, 15:06

Search marketing agency Spannerworks is planning European expansion, following its acquisition by US online marketing company iCrossing this week.

The iCrossing deal is reported to be worth $US18m (£9.2m).
Brighton-based Spannerworks is now set to open an office in London. Chief executive Arjo Ghosh said the company would expand abroad by gathering up European digital talent.

“Whether that comprises acquisition or not, it will be whatever is sensible for the business,” Ghosh said.

TheSpannerworks brand name and existing management team will remain place, but the agency will receive strategic direction from iCrossing’s board. This includes chief executive and founder Jeff Herzog, chief operating officer Donald Scales and chairman Richard Rosenblatt, former chairman of the board at MySpace.
Most search marketing agencies are currently acquisition targets. Bigmouthmedia was acquired by German operation Global Media in December last year.
Ghosh said his company’s acquisition marked a consolidation of the market but more “serious US players looking at the UK market. I think you can think of this as a sign of intent.”
In the US iCrossing’s clients include The Coca Cola Company, LEGO and General Motors.