There was a major acquisition this week, as one Facebook Marketing Partner (Brand Networks) acquired another (SHIFT) for $50 million in cash and stock.
Following this acquisition, Brand Networks powers more than $500 million in social advertising spend for more than 650 of the world’s biggest brands, including InBev, AT&T, Yahoo! and American Express.
Combined, Brand Networks now employs more than 250 people in 12 offices worldwide.
Jamie Tedford, founder and CEO of Brand Networks, discussed the acquisition in a press release:
Social marketing has evolved to become equal parts art and science. Simply providing workflow for content publishing and ads is table stakes today. The new challenge for marketers is to unlock the power of data to achieve true relevance — getting to the right person with the right content, at the right time, on the right device. Beginning today, marketers can now use a single platform to break down the walls between disparate teams, data silos, and content types to deliver relevant content across Facebook, Twitter and LinkedIn. Together with SHIFT, we’re able to deliver on the promise of making marketing more relevant to consumers and more effective for marketers. I’m thrilled to welcome James and the SHIFT team to the Brand Networks family.
SHIFT co-founder and CEO James Borow is excited to join Brand Networks:
Brand Networks and SHIFT have nearly identical DNA. Together we are committed to delivering technology that sets a new standard for social marketing — leveraging real insights that enable marketers to reach customers with content that drives real business results. Our combined platform provides the world’s leading brands with comprehensive marketing technology to deliver the most relevant brand content across all aspects of social.