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NEW YORK (Reuters) – Private equity firm BC Partners said on Wednesday it had agreed to acquire a majority stake in business-to-business digital marketing company Madison Logic.
Terms of the deal were not disclosed, but a person familiar with the matter told Reuters that the deal valued Madison Logic at about $750 million.
BC Partners seeks to acquire Madison Logic from Clarion Capital Partners, a New York-based private equity firm that acquired the company in 2016.
Following the acquisition of BC Partners, Clarion and Madison Logic executives, including CEO Tom O’Regan and co-founders Vin Turk and Erik Matlick, will remain minority shareholders in the company.
Madison Logic helps businesses use digital marketing to track business customers and generate targeted sales. The New York-based company, founded in 2005 by him, includes a number of companies including Amazon (AMZN.O), Google owner Alphabet (GOOGL.O), Adobe (ADBE.O) and Microsoft (MSFT.O). We have about 250 customers. Meta Platforms Inc (META.O), owner of Facebook.
B2B digital marketing spending is a small but growing part of the nearly $300 billion US digital advertising market.
Madison Logic competes with TechTarget Inc (TTGT.O) for market share in the US B2B advertising sector, according to market research firm eMarketer.
“Within digital marketing, Madison Logic focuses on the B-to-B segment, which is typically less recession-proof than the B-to-C segment,” said BC Partners. Chairman Raymond Svider said in an interview.
“We see room for continued organic growth at Madison Logic. We can continue to expand beyond our existing technology clients into other areas such as healthcare and industrials. There is also the possibility that it will be
Based in London, BC Partners manages over $41 billion in assets across healthcare, technology, financial services and industry in Europe and North America.
Reported by Chibuike Og of New York.Editing by Josie Kao
Our standards: Thomson Reuters Trust Principles.
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