iCrossing buys Spannerworks

Hehe. Media Post and Andy Beal report that iCrossing is due to buy Spannerworks. My post about people buying seo agencies was a fluke in timing. Honest.

Congratulations to Spannerworks. I hope this works out for them. In the cut throat UK agency world Spannerworks are one of the few to act with honour. I'm not sure about the £9m price tag though. That seems awfully low. Let's assume a x3, x4 or x5 price value based on turnover. Back in 2005 Spannerworks had a £2m turn over. This means they either got a low deal or they've not increased their turnover. Either seems unlikey.

Spannerworks will buy links. Other than that Spannerworks tends to walk the White Hat path. If I ask the bigmouths with an iProspect, Diddit, Media Partner, Google, etc, background then it seems like there may be a culture clash between Spannerworks and iCrossing.

Anyway. What does this mean?

It means Spannerworks have made it to the USA. We're yet to see whether the brand makes it. iCrossing have made to the UK. We're yet to see whether the brand comes with them.

Comments

Thus, 'the path of least resistance' Morihei Ueshiba, founder of Aikido
Anonymous said…
Hi Andrew - thanks for posting about the deal and for the kind words about our approach.

You're right to question that figure - unfortnately we can't talk about the financial details of the deal, but we have gone on the record to say that it is wrong: http://www.e-consultancy.com/news-blog/362647/us-digital-agency-icrossing-buys-spannerworks.html
Anonymous said…
perhaps the low price tag is due to much of the turnover being Pay per Click billing. That will hike up any SEM companies turnover....

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