Digital marketing agency 3Q Digital announced Friday the acquisition of iSearch Media in an all equity transaction.
3Q Founder and CEO David Rodnitzky declined to disclose the equity stake, but estimates the deal creates the largest independent digital marketing agency in the San Francisco Bay area, managing more than $300 million in annual advertising budgets. The combined revenue in 2013 was about $15 million, he said.
Rodnitzky points to search engine optimization practice, reporting analytics platform, rep growth, and people as the biggest assets that iSearch brings to the deal. He says the two companies complement each other's strengths. For 3Q, traditionally the goal has been to grow company market share 80% annually, and the acquisition is one way to hit that goal.
iSearch Media's Founder and President Scott Rayden will take the role of chief revenue officer; CEO Maury Domengeaux becomes chief financial officer; president and CTO Charles Hentrich takes on the role of chief architect; and VP client services Brian Grabowski will step in as SVP to head media and account management.
Rayden acknowledges that iSearch's focus on search, data, and consumer behavior will complement 3Q's suite of digital marketing services.
iSearch adds more than 40 clients including Relax The Back, California Closet, and Web.com to 3Q's approximately 70 such as 23andMe. Services will include SEO, SEM, display, social, mobile, video, and design, as well as analytics and consumer behavior. No layoffs are expected.