Fizziology LLC, a fast-growing social media research firm that is planning major growth at its headquarters in Indianapolis, has been acquired by a Los Angeles-based company.
MarketCast LLC, a provider of data analytics to entertainment industry marketers and researchers, acquired Fizziology in a deal that closed Monday, the two companies announced. Financial terms were not disclosed.
Fizziology announced in June that it was planning a $555,000 expansion of its offices at The Hatch, a coworking space at 6161 Hillside Ave. The expansion is expected to add up to 55 high-wage jobs by 2020, raising full-time employment to more than 75.
The Indiana Economic Development Corp. offered Fizziology up to $588,000 in tax credits and as much as $100,000 in training grants based on those job-creation plans.
Fizziology officials told IBJ Monday that the company plans to maintain operations and growth commitments at The Hatch.
Co-founders Ben Carlson and Jen Handley will remain with Fizziology as co-presidents. And the merger will allow the firm to bring its freelance software development team in-house.
“Adding our trusted development partners as full-time Fizziology employees will accelerate innovation at both MarketCast and Fizziology,” Handley said in written comments. “With the combination of Fizziology’s rapid development capabilities and deep historic data warehouse with MarketCast’s methodological expertise and global scale, we are excited to build the next generation of insights and analytics products.”
Fizziology, founded in 2009, provides clients audience insights distilled from Twitter, Facebook, Instagram and other sources. Its clients include Hollywood heavyweights Sony, Fox and Warner Brothers. The firm has been branching into other industries, including sports, travel and fashion.
MarketCast works with clients across the entertainment spectrum to test and optimize content, marketing, and distribution strategies. The company has more than 135 employees worldwide. The firm is a portfolio company of Kohlberg & Co., a private equity firm headquartered in New York.
MarketCast, founded in 1987, also owns Insight Strategy Group, a New York-based research and strategy agency that it acquired in 2015.
Fizziology’s growth landed the company on the Inc. 5,000 list in 2016 and 2017. It was named “Best Tech Service” at the 2017 Mira Awards. Inc. also named Fizziology a national “Best Place To Work.”
“We have been fans of Fizziology for years,” Henry Shapiro, CEO of MarketCast, said in a statement. "I’m excited to welcome Jen and Ben and the entire Fizziology team to the MarketCast group of companies. They have been able to bring research discipline and technological innovation to the rapidly growing field of social analytics. We believe that together, we offer an unparalleled array of insights and capabilities for our clients.”