QUINCY, Mass.--(BUSINESS WIRE)--Propel Business Services, Inc. d/b/a Propel Marketing, a leading national provider of digital marketing products and solutions for local businesses, has acquired ThriveHive, a Cambridge, Massachusetts-based firm known for its award-winning marketing software designed specifically for small businesses.
The acquisition reinforces Propel Marketing’s status as a dynamic leader in the SMB digital marketing ecosystem and brings together two Boston companies, who have both experienced fast growth.
“ThriveHive’s technology platform, combined with Propel’s unique market access and ability to deliver a full suite of marketing solutions, makes this incredibly exciting,” said Propel Marketing Chief Executive Officer, Peter Cannone. “This relationship furthers Propel’s vision to be the most trusted digital marketing solutions brand for local businesses across the U.S.”
“Propel and its assets will help more SMBs in need of a better solution find and use our platform,” said ThriveHive co-founder and Chief Executive Officer Max Faingezicht. “We’re thrilled to be able to bring together the talents and assets of two teams that both share a similar mission -- helping local businesses compete and succeed in the digital marketplace.”
Quincy-based Propel Marketing offers SMBs a full suite of digital marketing solutions including mobile-friendly websites, SEM, SEO, digital display, and social media advertising with advanced targeted capabilities, social media management, email campaigns, and custom videos.
ThriveHive was founded in 2011 by Faingezicht and Adam Blake, graduates of the MIT Sloan School of Management, along with Bryan Pedlar and Nic Mendoza, who met at Northeastern University. In 2015, the firm won a spot in Techstars Boston, a competitive accelerator program that connects promising startups with mentors, workspace, and seed funding. Also last year, ThriveHive’s guided marketing software for small businesses was recognized twice on G2 Crowd’s Best of 2015 lists for “Highest Rated User Satisfaction for Marketing Automation” and “Highest Rated for Overall Satisfaction.”
About Propel Marketing
Propel Marketing, a division of Propel Business Services, Inc., is a leading digital solutions provider helping local businesses connect with more customers. Propel Business Services, Inc. serves as a trusted online expert offering a unique blend of leading-edge technology, high quality customer service, and consistent results. Propel Business Services, Inc. is a trusted media resource and a wholly owned subsidiary of New Media Investment Group Inc.
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Propel’s vision to be the most trusted digital marketing solutions brand for local businesses across the U.S. and the expected benefits of the acquisition. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties, including economic conditions in the markets in which we operate, competition from other media companies, the possibility of insufficient interest in our digital business, and technological developments in the media sector. These and other risks and uncertainties could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. New Media Investment Group Inc. (the “Company”) can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Furthermore, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.