The Baltimore-based digital marketing agency acquired the New York-based social media marketing firm from CMS Group. Terms of the deal were not disclosed.
Along with more social media marketing expertise, the deal will give r2i a much larger New York City presence, said CEO Matt Goddard. The company already had a small office in the world media hub. Now, that office will number 25-30 employees. Make Me Social Chief Revenue Officer Matt Riley will run the office.
The deal is smaller than r2i’s March acquisition of CatapultWorks, which added 80 employees and a Silicon Valley office. Goddard said it will likely be the company’s final acquisition this year, and helps to cement the company’s strategy for growth.
R2integrated became a portfolio company of venture capital firm ORIX, and developed a strategy for growth centered on becoming the “middle market” of digital agencies.
“Our strategy was to start by doing a few acquisition over a couple years, and use those acquisitions to build a larger footprint across the U.S., and then grow the business organically,” he said.
Following the acquisitions, the company has four locations (Seattle is the fourth), 200 employees and $40 million in revenue, Goddard said. And the company is currently looking to hire ten more employees.
Though the company is expanding geographically, Goddard said R2integrated plans to remain headquartered in Baltimore, where it has a prominent office overlooking Inner Harbor on Pratt Street. He referenced the success of Under Armour, Millennial Media and Advertising.com.
“We want to be the next big company to build something headquartered in Baltimore,” Goddard said.-30-
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