Beltsville, MD-based Vocus (NASDAQ: VOCS), a provider of cloud-based marketing and PR software, has acquired iContact, a Durham, North Carolina-based provider of cloud-based email and social marketing software.
Under the terms of the agreement, Vocus acquired iContact for approximately $91m of cash, $9m of common stock and $79m of redeemable convertible preferred stock, aggregating $169 million of total consideration, net of $10m cash acquired.
The acquisition will allows Vocus to add email to its recently launched marketing suite, an integrated solution designed to help organizations reach and influence buyers across social networks, online and through the media. It already included search marketing, social marketing and publicity modules, centered around a recommendation engine.
Founded in 2003 by CEO Ryan Allis and Aaron Houghto and currently used by over 70,000 organizations, iContact’s email marketing software enables small to mid-sized businesses to create and send professional-quality email campaigns. Its email platform is integrated with Facebook and Twitter, allowing users to launch campaigns and offers across these social networks to reach new customers, create word-of-mouth buzz and generate sales. Through a rich reporting dashboard, it allows customers to monitor campaign effectiveness and track opens, clicks, likes, follows, etc. in real time.
30/08/2010: iContact Receives $40M Investment from JMI Equity