eLocal to Acquire Ring Router and Expand Performance-Based Lead Generation Platform into Insurance Industry
CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Oct 1, 2018--eLocal, a leading provider of performance-based advertising for local, regional and national service businesses, today announced they have reached agreement on principal terms to acquire Ring Router. The acquisition is expected to close in the immediate term.
Based in Pasadena, CA, Ring Router provides performance-based advertising in the form of pay-per-call programs within multiple insurance verticals. For years, Ring Router has helped large, national insurance agencies as well as independent local agents drive high intent, highly qualified insurance phone calls.
For more than 10 years, eLocal has offered a pay-per-call/pay-per-lead solution to businesses in the home services, legal, debt and addiction sectors. With the acquisition of Ring Router, eLocal will be able to deploy its best in class performance-based advertising solutions to insurance agencies nationwide. “We are excited to build upon Ring Router’s strong foundation within the insurance marketplace,” said Bruce Aronow, CEO at eLocal.
Fueled by an infusion of growth capital from LLR Partners in late 2017, eLocal is focused on augmenting its organic growth through targeted acquisitions in its existing and new verticals. “As we looked to expand our reach into new verticals, Ring Router quickly emerged as the right partner, with their similar performance-based pricing model and such a strong reputation in the insurance industry,” added Aronow.
“There was a natural fit between eLocal’s pay-per-call platform and what Ring Router has built,” said Brett Sweeney, head of business development at Ring Router who will lead eLocal’s new insurance division. “By leveraging eLocal’s technology and resources, I believe we have an incredible opportunity to accelerate the growth of the eLocal insurance division and deliver significant value to our clients and our publishing partners.”
eLocal is a fast-growing, 10-year-old performance-based advertising company, whose mission is to connect consumers with local businesses. With a specialization in the home services and legal verticals, eLocal has been at the forefront of a changing advertising industry as one of the only media companies offering businesses of all sizes a performance-based pricing model to support new customer acquisition. In 2016 and 2017, eLocal ranked in the Philadelphia Business Journal’s Soaring 76 for the fastest-growing companies in the region. Its founders also won EY Entrepreneur of the Year Awards in 2017 for E-Services. Learn more at www.elocal.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181001005926/en/
CONTACT: LLR Partners
Kristy DelMuto, 215-344-1372
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA PENNSYLVANIA
INDUSTRY KEYWORD: SEARCH ENGINE MARKETING PROFESSIONAL SERVICES INSURANCE COMMUNICATIONS ADVERTISING MARKETING
SOURCE: LLR Partners
Copyright Business Wire 2018.
PUB: 10/01/2018 02:49 PM/DISC: 10/01/2018 02:49 PM