NCSU Centennial Campus is home to a new company but one with a lot of familiar faces. iCiDIGITAL formally announced its spin-out from recently sold I-Cubed and will be led by Donald Thompson, I-Cubed’s CEO.

As WRAL TechWire reported June 13, Thompson and executives at I-Cubed planned to spin off a part of I-Cubed, which was acquired by KPIT for as much as $24 million.

Thompson announced the launch of the marketing group on Wednesday afternoon. iCiDIGITAL traces its origins to 2006 when launched as a technology practice within I-Cubed.

“The launch of iCiDIGITAL is an exciting time for our growing company. The team started as a 3-person business unit and has expanded to over 40 employees, growing revenues by double digits annually since inception,” said Thompson, who will serve as iCiDIGITAL’s CEO.

“Our long-standing relationships with both Abode, a WEM industry leader, and North Carolina State University, allow us to provide top tier technology and talent to ensure successful implementation of our client’s complete digital marketing strategy.”

iCiDigital offers a variety of digital marketing services and has worked with SAS, Time Warner Cable, NASCAR as well as Morgan Smith Barney. 

When the original I-Cubed deal was announced, Thompson explained the spinoff thinking for iCiDIGITAL.

“It’s good financially, good for our employees who can grow their careers,” said Thompson of the sale, “and good for our customers, because we’ll be able to offer a much stronger portfolio of services. We’ll be able to go after larger accounts.”

The deal includes a guaranteed payment of $14.15 million, $12 million up front and the rest in six months. The company could get an additional $10 million based on performance over three years, reported WRAL TechWire’s Allan Maurer.

The company was founded in 1984 by Grant Willard who left when Adobe bought a piece of the company’s technology close to a decade ago.

It fostered an entrepreneurial couture despite being in business for a quarter of a century. In 2012, Thompson says, it created iCiDigital, which specializes in high web profit management with three or four people and it quickly expanded to 40. 

About 80 of I-Cube’s employees stayed with the new owners while about 40 went with iCiDigital. No employees will be laid off due to the acquisition.