Today we are excited to announce the acquisition of Australia-based Downstream Marketing. This represents a key milestone for Efficient Frontier as we capitalize on the huge market opportunity that exists outside of the U.S. By combining forces with Downstream Marketing, we are acquiring a market leader in a key growth region for us, which provides new opportunities for our global customer base.
Downstream Marketing is the largest provider of digital marketing technology and services in Australia. This forward-thinking company has captured significant market share, having grown more than twice as fast as the general market. Downstream also has a very experienced management team, led by the former head of marketing at eBay Australia, Steve Knowles. Downstream currently services more than 50 leading digital marketers in the region including Westpac (largest retail bank), SunCorp (largest insurance company), American Express, Vodafone and Avis.
Australia is a booming market for online advertising. Per the Australian IAB, online advertising expenditure reached $2.45 billion, up 20% YOY in the 12 months ending June 30, 2011. Search was up 23% YOY and Display was up 12% YOY. The online advertising business is on track to surpass $3 billion in 2012.
For more about the announcement, please read the full press release here: http://www.efrontier.com/about-us/press/press-releases/acquisition-of-downstream-marketing
–David Karnstedt, CEO