NEW YORK Expanding its digital business, Gannett has acquired Ripple6, a provider of social media services. Ripple6 will become a wholly owned subsidiary, providing its social media technology and analytics to Gannett as well as to marketers and Web publishers.
As part of the transaction, the 10 percent stake of Ripple6 owned by Chris Saridakis, svp and chief digital officer of Gannett, was bought out by Gannett. Financial terms of the deal were not disclosed.
Ripple6 powers a number of well-known Web sites, such as Gannett's MomsLikeMe.com, which rolled out in 80 local markets. It also powers social media properties for Procter & Gamble and Meredith's soon-to-be-launched MixingBowl.com, a social network around meals and meal planning.
"From the moment we began working with Ripple6, we realized we had found a company that is richly innovative and can change the way social media is offered and monetized online," said Craig Dubow, chairman and CEO of Gannett. "With the Ripple platform, we can help users create communities and connect with their friends and family in highly pleasing ways, while providing marketers with innovative advertising opportunities and measurable results."