JEGI Represents Hearst in its Acquisition of iCrossing
(Press Release)—The Jordan, Edmiston Group Inc. (JEGI) continues to demonstrate its deep expertise and knowledge of the marketing services, interactive and technology sectors with the completion of Hearst Corporation's acquisition of global interactive marketing services company iCrossing. JEGI initiated this transaction and acted as Hearst's exclusive financial advisor.
The acquisition gives Hearst, one of the nation's largest diversified media and marketing companies, extensive global digital marketing capabilities, including paid search, search engine optimization, Web development, mobile and social marketing, and data analytics.
Frank A. Bennack, Jr., Vice Chairman and CEO, Hearst Corporation said, "Search and online marketing expertise will be an important asset for us, as we continue to look for new ways to reach key audiences through digital marketing for our brands and our clients. iCrossing has built a great business and has consistently been recognized as a leader in its field; its strong relationships with top brands and companies are a perfect complement to our own."
iCrossing works with leading companies, such as Bank of America, Toyota, Travelocity, and The Coca-Cola Company, to help them connect with customers via digital platforms and increase search effectiveness and consumer engagement. iCrossing is consistently ranked by Advertising Age, Forrester and OMMA Magazine as the leader in search marketing services. According to Don Scales, President and CEO, iCrossing, "Aligning with Hearst means a sharing of consumer insights, content, channel expertise and technology that will result in totally new approaches to both digital and integrated marketing for advertisers."
Global interactive marketing spending in 2009 was estimated at $25 billion, according to Forrester Research. "Digital marketing and advertising is a burgeoning market that has become very complex, so media companies need interactive marketing services, such as the ones provided by iCrossing, to holistically service brands or advertisers," said Wilma Jordan, Founder & CEO of JEGI. "This innovative and unique acquisition by Hearst reflects efforts by traditional media companies to build a presence in interactive marketing services, and we foresee transactions like this becoming more common in the marketplace."
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY is the leading provider of independent investment banking services for media, information, marketing services and related technologies. Since being founded in 1987, JEGI has completed nearly 500 high-profile M&A transactions for global and emerging companies; entrepreneurial owners; and private equity and venture capital funds. For more information, visit www.jegi.com