Spannerworks acquisition overshadowed

While all hell was breaking loose over the Thomas Cook-MyTravel merger, announced earlier today, readers may be interested to learn of another significant ownership change.

Spannerworks, the Brighton-based digital marketing agency, headed by Arjo Ghosh, has been snapped up by rival US giant iCrossing for a cool £40 million.

Rumours of a deal between Spannerworks and a US search company have been circulating for a few weeks, but the purchase by iCrossing, which counts ex-MySpace chairman Richard Rosenblatt in the same position within the team, is a major achievement for Ghosh and the team.

Spannerworks will continue to operate out of Brighton in the UK, with Don Scales and Jeff Herzog from iCrossing joining its board of directors.

Ghosh started the agency just ten years ago and it has grown steadily to now have a staff of 70.

The agency has also had some significant wins in the travel sector in the past year, including contracts to work with the likes of Thomson and Cheapflights.

Last year Spannerworks also hired Antony Mayfield as its first head of content and media – signalling its intent to add elements of social media into its search marketing strategies for clients.

[Read Mayfield’s personal blog here]

Kevin May, editor, Travolution