Aegis buys search marketing agency

iProspect will now become part of Isobar, the Group’s recently formed digital network.

Aegis has acquired 100% of the equity, which was previously held by iProspect’s founders. The purchase price will be around $32m payable in cash on completion.

There will also be deferred cash consideration of up to $18.0 million, payable over two years, subject to performance-related criteria.

Founded in 1996 and headquartered in Massachusetts, iProspect claims to be on of the pioneers of search marketing. The company provides search marketing services to increase traffic to clients’ websites and track conversion to sales.

Doug Flynn, CEO of Aegis, said: “Understanding the ways in which the internet can be used to effectively develop consumer interest and drive sales is the holy grail of marketers. We are very impressed with the vision of iProspect and are very keen to develop this part of the business into a true international capability.”