On Thursday, Brand Networks known for its relevance-driven social marketing and advertising software acquired Shift, an award-winning startup for cross-network social advertising, in a $50 million cash and stock deal.
Shift is well-known for specializing in advertising across various social networking sites like Facebook, Twitter, LinkedIn. Based in Los Angeles, it also operates in Chicago, New York and London. With the acquisition of this company, the Boston-based Brand Networks will be used for more than $500 million in social advertising spending by more than 650 of the world’s renowned branding agencies. The clients of the company include more than 50% of the Fortune 100 companies and more than 75% of the Advertising Age’s 25 Most-Advertised brands. Some of them are Interpublic Group, WPP, American Express, AT&T, Discover, Yahoo and Unilever.
Along with the acquisition deal, Brands Network is announcing a new proprietary technology product called RelevanceRank. This product is designed to help the marketers have the maximum possible reach, efficiency and effectiveness at every stage in the process of social marketing. It uses an algorithm that helps the marketers in suggesting the right social network platform that should promote paid and organic content.
Through the acquisition, Brand Networks bolsters Shift’s executive team by moving Shift’s co-founder and CEO, James Borow as the chief product officer. Also, it will increase the global presence of the company with the augmenting total of 250 employees in 12 offices all over the world. Borow looks at Brand Networks, Optimal and Shift as three companies that have conceived and developed in the same place. He said, “As different as we are, we are hell of a lot more similar in many ways. We have all, for the past five years, been looking at Facebook, Twitter and LinkedIn and really been about combining all these worlds.” He also added, “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.”
Adding to it, Brand Network’s marketing capabilities will now leverage Shift’s integration with Facebook’s Atlas, that supports to promote ad relevance and measurable business results across devices and platforms, online to offline.