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NEWS12 January 2010

Powered ups the ante with three social media acquisitions

M&A North America

US— Brand community builder Powered has reinvented itself as a social media marketing agency after completing a trio of acquisitions – Crayon, Drillteam and StepChange.

Powered, which was founded in 1999, said it is now positioned “to help brands and their agencies define and deliver cohesive social media strategies that integrate with their traditional marketing mix”.

The firm said that acquisitions make it the “first full-service social media agency of scale” and give it a roster of more than 60 global brands that are using social media to connect with their customers.

Powered said that its new offering will use a wide range of social media tools, including Facebook, Twitter, blogger outreach, communities and mobile applications.

Joseph Jaffe, president of strategic social marketing consultancy Crayon, has been given the role of ‘Chief Interrupter’ at Powered. His team will be merged into Powered’s operation.

Engagement marketing agency Drillteam and social marketing campaign designer StepChange, an expert in designing Facebook campaigns and applications for clients, will keep their names and operate as Powered companies.

Powered CEO Ken Nicolson (pictured) said: “We selected these three companies as partners in our new social media agency because we have a shared vision that social initiatives should help brands drive increased sales from new and existing customers.

“That mindset is ingrained in the DNA of all four companies and is evident in the success of the programs we have in market. Our capabilities are highly complementary and allow us to provide a full suite of services to global brands.”

Financial terms of the acquisitions were not disclosed.

@RESEARCH LIVE

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