Beringer Capital, Adweek’s Parent Company, Invests in Digital Consultancy iCiDigital

It now has a majority stake in the company

North Carolina-based iCiDigital has worked with brands such as Nascar and Time Warner.
Sources: Getty Images, iCi Digital

Adweek’s parent company, Beringer Capital, has invested in the digital consultancy firm iCiDigital, according to the Toronto and New York-based private-equity firm.

Founded in 2014, the Raleigh, N.C.-based iCiDigital provides services including strategy, design, engineering and data analytics, working with brands such as Time Warner Cable, Panera and Nascar. In addition to North Carolina, the company also has an office in Chicago.

“We believe iCiDigital is strategically positioned to help marketers of leading brands drive digital transformation at scale,” said Brian Martin, vice chairman and managing partner at Beringer Capital. “iCiDigital’s team of world-class technologists and creative problem solvers have been instrumental in building exceptional customer experiences that have helped major brands stay competitive.”

The investment allows Beringer to have a majority interest in the company, while iCiDigital’s leadership team will continue to have a stake in the firm. It will also continue to operate independently, led by current president and CEO Greg Boone.

Last month, Beringer acquired Blue Acorn, an ecommerce firm specializing in data, design and optimization. It was Berginer’s first investment since acquiring Adweek in July from Mediabistro Holdings for an undisclosed sum.

“Customer experience stands at the core of today’s fastest growing companies,” Boone said in a statement. “As technology and data become more readily available to all levels of decision makers, it’s critical for businesses to align their digital initiatives with customer expectations. Our partnership with Beringer Capital allows us to expand our reach and widen our talent pool across creative, engineering and data science.”