Artesia Acquires TeamToolz
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Digital asset management firm Artesia Technologies has signed a definitive agreement to acquire the assets of TeamToolz, a provider of web-based marketing and brand management software. The agreement will allow the Rockville, Md.-based company to offer a marketing and brand management solution that includes workflow and collaboration features, brand resource management, budget tracking and digital distribution of marketing content, all integrated into a unified enterprise platform.
Terms of the deal were not disclosed. The transaction is expected to close before the end of August.
Founded in San Francisco in 1999, TeamToolz offers marketers, their agencies, vendors and the media web-based marketing productivity management software. TeamToolz allows marketers to capture digital brand assets and marketing knowledge, streamline budget tracking and distribute finished marketing content digitally.
"The combination of Artesia and TeamToolz offers corporations a unique opportunity to improve their overall market responsiveness, protect the integrity of brand assets and allow for the synchronization of multi-channel campaigns more effectively," said Chris Veator, chief executive officer of Artesia. "This acquisition allows us to offer compelling and complementary technology to our existing blue-chip media customers and signals Artesia's continued commitment to driving the adoption of digital asset management capabilities further into the mainstream corporate market."
Artesia's core product, TEAMS, allows organizations to capture, manage and dynamically re-express valuable rich-media assets -- video, audio, images, graphics and text -- and leverage them to exploit new business opportunities requiring targeted delivery of rich media.
Artesia's customers include Time Warner Trade Publishing, General Motors, Random House, Herman Miller, The FeedRoom and Discovery Communications.
"With a solid foundation for managing digital assets, Artesia is thrusting forward on three fronts, entertainment, publishing and brand management," said Mark Walter, senior analyst for Seybold Publications. "This type of acquisition -- small and focused -- makes a lot of sense, as Artesia steadily builds its way toward the goal of becoming the clear leader in the digital asset management market."
The integration of the two company's technology platforms, which has already been deployed as part of a hosted solution from TeamToolz, combines the ability to manage, edit, distribute and access via the web, all types of rich media utilized in today's multi-channel marketing programs with extensive campaign development capabilities, including project routing and scheduling.
"With organizations realizing a significant portion of their shareholder value on the basis of their brand equity, more effective brand and marketing management has become a highly valued ingredient for success in today's economy," said Agnieszka Winkler, founder and chairman of TeamToolz. "Having worked closely with Artesia, I'm confident that they possess the vision and drive to deliver these capabilities to the broader market."