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Isobar Acquires IProspect
Just this morning I was thinking to myself that iProspect had been keeping a low profile recently. Now we know why...
"Isobar, the global full service digital network created earlier this year by U.K. firm Aegis PLC, today announced it has acquired 100% of iProspect."
Maybe the first thing iProspect can do is help Isobar get rid of that flash splash screen. ;-)
So who has the inside details? How much did they sell for and will Mr. Marckini be staying on or retiring to the beach?
Update: From the Aegis website ... "The purchase price will be composed of initial consideration of approximately $32.0 million payable in cash on completion. There will also be deferred cash consideration of up to $18.0 million, payable over two years, subject to the satisfaction of rigorous performance criteria. "
So Aegis paid $32m in cash and maybe another $18m. I hope they kept the receipt. Typically, when a company sells for all cash, it means the principle has no plans to stay with the company long-term. I know that the guys at iProspect love reading this blog, so maybe they'll drop me a line to let me know. Then again, maybe not. ;-)
Update #2: Looks like Marckini and Murray are staying ... "Founder and chief executive Fredrick Marckini and president Robert Murray will continue to oversee iProspect's day-to-day operations."
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About the Author:
Considered one of the worlds most respected interactive and search engine marketing experts, Andy has worked with many Fortune 1000 companies such as Motorola, CitiFinancial, Lowes, Alaska Air, DeWALT, NBC and Experian.
You can read his internet marketing blog at Marketing Pilgrim and reach him at andy.beal@gmail.com.
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Andy Beal 
