LocalVox Media, a US-based local, social and mobile marketing services provider formerly known as NearSay, has raised $7.4m from a private equity-backed trade peer and completed its acquisition of social media manager Postling.
Talus Holdings, a local media holding company principally owned by GSO Capital Partners, an affiliate of New York-listed private equity equity firm Blackstone, invested in LocalVox for strategic and financial reasons as LocalVox has more than 20 publisher partners.
Over the summer, LocalVox launched a partnership with CT1 Media, a Tribune Company, to bring LocalVox to the Hartford market and Courant.com.
David Pachter, LocalVox co-founder and chief executive, said: “We are very pleased to team up with Blackstone’s GSO Capital Partners and Talus Holdings, [which] represent both investors and strategic partners.”
Scott Eisenberg, principal of Blackstone’s GSO Capital Partners and a newly appointed board member of LocalVox, added: “The LocalVox investment represents a continued strategic commitment to the significant opportunity in the local online marketing industry. Through Talus Holdings, Blackstone’s GSO Capital Partners is creating an ecosystem of technology investments and value-added services that facilitate the digitization of the local advertising market. LocalVox is a key element that we believe has the potential to connect them all together.”