Hearst Corp. is inching closer to buying digital marketing company iCrossing for about $375 million, the Wall Street Journal reports.iCrossing, one of the U.S.’s largest independent digital marketing companies in the United States, helps clients including Travelocity and Coca-Cola promote their products on the web through interactive campaigns and mobile phone apps. They are backed by Goldman Sach and Oak Investment Partners.
As paidContent points out, the non-executive chairman of iCrossing’s board is Richard Rosenblatt, Demand Media’s CEO. Gaurav Bhandari, managing director, Goldman Sachs, also serves on both companies’ board.
Hearst went after iCrossing in 2009, offering an unsolicited bid of $250 million. But the company’s board dismissed their bid as too low, WSJ reports. WPP, Dentsu and Aegis Media have also tried to woo the company into their folds.
If Hearst lands the deal, they will try to boost more ad dollars across the web.
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