Ascentium buys e-commerce firm Cactus Commerce
The impetus for the deal was clients' expectation that agencies provide technical and creative expertise, said Marinelli.
“From a technology perspective, we bring [digital commerce, social, content management and mobility capabilities] to the table and provide the depth, where the Ascentium folks bring the ideas and the creation and the strategy,” he said.
Marinelli will serve as executive vice chairman at Ascentium and report to CEO Curt Doolittle. The Cactus Commerce brand will be discontinued and Ascentium will create a division to house its operations and employees, said Marinelli.
Ascentium will retain all of Cactus Commerce's approximately 150 employees as well as its three Canadian offices, including its Gatineau, Quebec, headquarters.
Marinelli said Ascentium plans to work with all of Cactus Commerce's clients, such as GameStop, Barnes & Noble, Microsoft Corp. and Sam's Club. Bellevue, Wash.-based Ascentium has worked with Cisco Systems, Electronic Arts, T-Mobile USA and Microsoft Corp.
Ascentium expects the combined company to exceed $65 million in annual revenue. Marinelli said the company hopes to acquire at least one more company in the next six months, such as a geolocation firm or an outlet that can expand Ascentium's European presence, he said.
The acquisition closed September 2, said Marinelli, who declined to disclose its financial terms.