Monday, July 30, 2007

iCrossing Acquires Web Developer Proxicom

Digital marketing firm iCrossing Inc. reported Monday that it has acquired Web development agency Proxicom Inc. Terms of the deal were not disclosed. iCrossing recently raised $62 million in a round of venture capital financing last week from Goldman Sachs, which it said would be going towards acquisitions. Based in Scottsdale, Arizona, iCrossing's expanded operations now include 550 employees in 12 locations in the United States and the United Kingdom. Founded in 1991, Proxicom creates corporate Web sites. Among its clients are Toyota, Chevron, Dupont and Epson. iCrossing said Proxicom will retain its brand under the leadership of Chief Operating Officer Blue Van Dyke. AdMedia Partners of New York served as financial advisor to iCrossing, the company added.