Hearst Pays $325m for iCrossing

Digital marketing agency and online buzz measurement specialist iCrossing has been acquired by media and marketing giant Hearst Corporation in a deal valued at $325m.

Headquartered in Scottsdale, Arizona, iCrossing brings to the Hearst stable a range of marketing services including paid search, search engine optimization, web development, social media, mobile, research and analytics. Last year the firm - which has 550 employees in 12 offices in the US and Europe - released a social media monitoring application for the iPhone, that enables users to search Twitter, Digg and thousands of forums and blogs.

On closure of the deal, iCrossing management will continue in their present roles, while Hearst Magazines' SVP Matthew Petersen will head the newly formed Hearst Marketing Services, which will include oversight of iCrossing.

'Aligning with Hearst means a sharing of consumer insights, content, channel expertise and technology that will result in totally new approaches to both digital and integrated marketing for advertisers,' explains Don Scales, iCrossing's President and CEO. 'Hearst, with its leadership in brand building, content creation and distribution is the perfect partner to fuel our continued growth.'

Web sites: www.icrossing.com and www.hearst.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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