ThriveHive acquired by New Media’s Propel Marketing

NEW YORK – New Media Investment Group Inc., the parent company of GateHouse Media which owns the Providence Journal, said this week that its Propel Marketing subsidiary has acquired ThriveHive for $11.8 million.
ThriveHive, based in Cambridge, Mass., is known for its marketing software designed for small businesses.
A press release said that the acquisition brings together two Boston-area companies. Propel is based in Quincy, Mass.
“We are thrilled to announce this exciting acquisition. ThriveHive is a turnkey proprietary software platform that enables SMB owners to run their own digital and contact marketing campaigns … Looking ahead, we believe this acquisition will help drive higher margins for the overall business by transforming Propel from a marketing services reseller company into a software and technology platform company,” Michael Reed, New Media’s president and CEO, said in a statement.
Last year, ThriveHive’s guided marketing software for small businesses was recognized on G2 Crowd’s Best of 2015 lists for “Highest Rated User Satisfaction for Marketing Automation” and “Highest Rated for Overall Satisfaction.”

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