Minneapolis ‘Social Enterprise Agency’ Magnet 360 announced yesterday the acquisition of Los Angeles-based American Data Company (ADC), a Salesforce.com strategic partner with about a dozen employees.
Magnet 360 cofounder and managing partner Dan Mallin is a serial tech entrepreneur and was the lead deal maker with ADC. Let’s hear more:
How and when did Magnet/ADC meet and court each other?
Matt Meents, my partner, and ADC founder Josh Holtzman are both are active in EO (Entrepreneurs Organization) and had know each other for a few years. I met Josh last November and we began dipping our toes in January.
What was the purchase price or any terms of the deal?
No Terms have been disclosed.
What were the main motives or primary assets and what is the plan in place moving forward?
This is a great opportunity for both companies to continue growing. ADC Is inc 5000 and Magnet 360 Inc 500. Adding a larger footprint on the west coast will help,us service our existing west coast clients, add ADCs clients and grow a new client base ADC has extensive experience in salesforce.com, ExactTarget and ISV/platform integrations. Our companies will deepen each other’s service offerings.
What was the scope of Magent 360’s West Coast presence before the acquisition and how will that change moving forward?
We had a small outpost in San Francisco with an expanding client base through out California and Nevada. ADC adds a dozen resources on the ground, already productive, and Josh will be the Managing Director of Magnet 360’s West Coast offices.
This is the second acquisition that we’re aware of…does Magnet foresee further growth through acquisition down the road and if so, what areas are of interest?
Our strategy is focused on organic growth with opportunistic acquisitions. We have looked at many potential deals over the years – most not making business sense for Magnet 360.
Is there anything else you’d like to add?
We at excited about ADC joining Magnet 360. Their culture and team where a great fit. We have a very strong onboarding, training and integration process that has facilitated our growth both organic and acquisitions. Thank you for your time.