Search engine marketing firm iCrossing will purchase Spannerworks, a U.K.-based search agency, for $18 million, according to NewMediaAge.
The acquisition will see iCrossing - whose president is former Agency.com CEO Don Scales - secure its first presence outside of the U.S., where it currently has six offices. Spannerworks was established 10 years ago, with founder Arjo Ghosh as its CEO. Last summer it set up a social media and content division.
Under the terms of the earn-out agreement, the Spannerworks brand will remain, and its management team will continue to be led by Ghosh.
"From this month forward we will be embarking on a global expansion strategy in partnership with iCrossing, and will be keenly hunting for the best European talent in the industry," Ghosh said in a statement.
