Range Online Media bought by iProspect
Search marketing firm iProspect has acquired search and interactive firm Range Online Media. Financial terms of the deal were not disclosed.
“We have had great respect for [Range] as competitor in the marketplace,” said Robert Murray, president of iProspect, “They provide great geographic presence and vertical expertise. I'm looking forward to us learning from them and them learning a little bit from us.”
IProspect has offices in Boston, San Francisco and Chicago. Range is headquartered in Fort Worth, TX and has offices in New York City and Sandy, UT.
Murray said the timing of the deal worked in the companies' favor. “You're seeing all these big agencies partnering up with firms,” he said. “Being part of a larger organization with a larger support structure is beneficial.”
Misty Locke will remain president of Range Online Media and will also assume the role of chief strategy officer of iProspect. There will be no other changes in staff, according to Murray, except for “more hiring.” All staff will remain in their current offices.
Range will eventually take on the iProspect brand name. “We're working on an assimilation plan which is going to be a collaborative effort with both executives.” Murray said. “Our long term plan is to have a common platform to promote. How we'll use the Range name remains to be seen — there could be opportunities.”