Social marketing company Brand Networks continues to gobble up the competition — it just announced that it’s acquiring Shift in a $50 million cash-and-stock deal.
Back in 2013, it acquired Optimal, another social media advertising company. Brand Networks founder and CEO Jamie Tedford (pictured above) said “the success of our own business on-boarding Optimal” made him confident about integrating Shift.
Tedford added that his company and Shift (previously known as GraphEffect) have been “friendly competitors for many years,” and that it was an attractive acquisition because of Shift’s technology, its team and its client list.
Shift co-founder and CEO James Borow will become chief product officer at Brand Networks (a role once held by Optimal’s Rob Leathern, who’s now working on a new startup), and he said “a very large portion” of his team is moving over as part of the acquisition.