Springbox acquired by Prophet
7 Mile Advisors Acts as the Exclusive Sell-side Advisor to Springbox in Their Sale to Prophet.
CHARLOTTE, NC – 7 Mile Advisors acted as the exclusive sell-side advisor to Springbox, an Austin-based leading digital agency, in their sale to Prophet, a San Francisco-based global consulting firm that blends insights, strategy, and creativity to unlock uncommon growth potential for clients.
“Finding the right buyer for the team and to continue our journey creating digital leaders was the most important part of the process. In Prophet, I believe we have found that partner and the future will be bright for the combined organization,” said Tom West, former Chairman and Owner of Springbox.
Prophet will combine Springbox’s digital capabilities and demand generation expertise with their customer insight, management consulting, innovation, and design capabilities. This move allows Prophet to bridge the gap between strategy and execution, allowing them to deliver end-to-end solutions that drive digital marketing excellence.
“The C-suite of forward-thinking companies needs to harness the power of digital to change the growth trajectory of their business and make it sustainable,” said Michael Dunn, CEO of Prophet. “The challenge, however, is that few consulting and agency partners have the capabilities to meet these needs. This move accelerates progress toward our goal of building the thinking, frameworks, skills, and team required to help senior executives and companies deliver the digitally powered transformation agenda required to unlock uncommon growth.”
Springbox’s team of digital leaders will continue to operate as Springbox, a Prophet company, and remain in their existing base of operation in Austin, TX under the guidance of current CEO John Ellett.
This transaction marks 7 Mile Advisors’ 13th successful transaction in the Business Services and Technology space in the past 12 months. The team at 7 Mile Advisors regularly publishes research reports on the digital agency industry, and expect to see continued activity in the space as companies are forced to compete in an ever-evolving digital landscape.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
Springbox is an Austin, Texas-based agency that helps companies become digital leaders and realize the potential of transformative ideas to achieve uncommon growth. Its portfolio of services includes business consulting, digital experience design, campaign planning and management and digital product development.
Prophet is a leading global consulting firm that helps clients unlock Uncommon Growth through marketing, brand, experience, innovation, and organization & culture capabilities. We operate differently than other consultancies, blending insight, strategy, and creativity with an optimistic yet pragmatic approach.
We have partnered with some of the world’s most successful companies, including Electrolux, T-Mobile, UBS, Gatorade, and GE. With eleven global offices and more than 400 experts in marketing, innovation, digital and design, we can bring together the right people with the right experience to solve our clients’ business challenges.