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Brand Networks announced today it will acquire SHIFT, a cross-network social advertising and collaboration platform. Brand Networks, a global social marketing and advertising software provider, paid $50 million cash and stock for the LA-based company.
SHIFT was founded in 2010 and had raised a total of $14 million in funding before the acquisition by the Boston-based Brand Networks. They now join a network of 12 offices and 250 employees around the world. Brand Network’s clients include American Express, AT&T, InBev, Discover, Yahoo! and Unilever.
The acquisition was announced along with Brand Network’s new proprietary technology, RelevanceRank. The social marketing platform is designed to help marketers achieve the highest possible levels of effectiveness and efficiency.
Co-founder and CEO of SHIFT, James Borow, will join Brand Network’s executive team as Chief Product Officer.
“Brand Networks and SHIFT have nearly identical DNA," Borow said in a statement. "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.”
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