Independent e-commerce digital marketing agency Search Insights has been acquired by a private Melbourne based holding group of companies in the digital solutions space, 121 Group.
Financial terms of the deal have not been released but will give Search Insights well over and above a seven figure valuation.
The private company network says the move to acquire Search Insights is part of its strategy to deepen its service offering to its existing client base of 1358 businesses.
The move will see the specialist skill set and proven services of Search Insights deployed across new markets and geographic regions at scale.
Search Insights was founded in 2012 by Jay Wright with a staff at that time of two.
Today the agency is a 26-strong data-focused agency known for its highly effective ROI driven digital campaigns for B2C businesses.
Despite being bought, Search Insights will continue as an independent brand.
However, changes will include Jay Wright becoming GM and Adam Ducquet stepping in as MD.
Ducquet’s role within the privately owned group of companies was pivotal in the acquisition of Search Insights.
Wright said, “I started Search Insights with the idea of creating real value and transparency for clients.
“The digital marketing space was ‘scorched earth’ from the masses of low end, churn and burn agencies that sprouted up with the growth of the internet.
“That’s what originally lead us to tackle e-commerce. There is absolutely nowhere to hide and we have since been able to take our approaches to other verticals including finance, healthcare and pharmaceuticals, as well as QSR and hospitality.”
The agency’s current client list consists of Sydney Royal Easter Show, Napoleon Perdis, Pharmacare, Mad Mex, Primary Health Care, Bailey Nelson, and The Upside, to name a few.
Last month Search Insights opened a Melbourne office and has already grown to 5 full-time staff with clients including Tiger Mist, Marrimekko, Victoria & Woods, Milligram and Walnut Shoes.
Ducquet said, “The acquisition of Search Insights has allowed our group, including myself, to expand our passion for helping to scale and grow Australian businesses.
“The team is delighted and excited to embark on the next phase of growth with additional resources and expertise now available.”