iCrossing boosts global growth with Proxicom deal

by Hayley Pinkerfield, Revolution UK 30-Jul-07, 13:00

NEW YORK - US digital marketing giant iCrossing has acquired web development firm, Proxicom, the latest in a series of deals marking global growth plans.

With Proxicom, iCrossing will now account for more than $100 million (£49 million) in net revenue, with 550 employees in 12 offices across the US and UK. The news follows last week’s announcement that Goldman Sachs and Oak Investment Partners led a $62 million (£30 million) investment in iCrossing.

“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.”

iCrossing marked its entrance to the UK market when it bought Brighton-based search marketing company, Spannerworks, earlier this year. Arjo Ghosh, CEO of Spannerworks, said of the latest deal: "This news underlines Spannerworks’ intention to grow its web development capabilities so that it is better placed to serve the needs of an integrated digital marketing offering, that builds user experience in the heart of each programme. We are extremely excited about our expanded capabilities as well as the synergies between Spannerworks and Proxicom, and all of our clients will benefit as a result."

Over the past year, iCrossing has also acquired San Francisco paid-search agency NewGate Internet and marketing technology provider Sharp Analytics. Clients include Travelocity and more than 40 Fortune 500 companies, such as The Coca-Cola Company, General Motors and Office Depot.