Digital performance and search agency Downstream Marketing has been fully acquired by Efficient Frontier, as it looks to expand its social media offering.
Global digital marketing outfit Efficient has acquired all the shares in Downstream, which were previously owned by venture capital company Netus and chief executive and founder Stephen Knowles.
Downstream had previously worked with Efficient Frontier, having licensed their technology platforms. Knowles told AdNews the deal with Efficient will allow the agency to significantly expand its Facebook capabilities for its clients.
Efficient recently acquired Context Optional, a management platform for social media including Facebook and Twitter. Downstream will introduce the platform in Australia.
Knowles told AdNews: "Netus has been an amazing partner, we would like to acknowledge that. Efficient can deliver more technology, insights and best practices from the US."
Knowles said no staff will be lost as a result of the deal and Downstream are looking to hire an additional three employees to lead the rollout of Context Optional.
Knowles said in a statement: "For the past five years, Downstream Marketing has successfully deployed Efficient Frontier's platform to provide strategic advantage in digital marketing for our clients. We're excited to officially join forces to expand our product offerings in our market as well as provide additional global reach to Efficient Frontier's existing client base.
"The investment by Efficient Frontier represents a key milestone for Downstream Marketing as we capitalise on the huge market opportunity that exists for brands in Australia across search, social and display advertising."
Efficient Frontier chief executive David Karnstedt said: "We are excited to deepen our partnership with Downstream Marketing, a true leader in this market. We'd like to welcome the entire team to the Efficient Frontier global family."
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