Vocus Buys iContact for $169 Million
PR software company Vocus has acquired iContact, an email and social media marketing company, for $169 million, “$91 million in cash, $9 million in common stock, and approximately $79 million in redeemable convertible preferred stock,” according to an announcement made late yesterday.
According to that release, iContact is used by 70,000 organizations. The purchase brings an email offering into its existing marketing suite.
There will be no changes to either company’s products and services, and the iContact staff will stay put in Raleigh-Durham, NC.
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