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Austin Ventures & Dachis Buy Social Media Agency Headshift

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Dachis Group, the rollup vehicle funded by Austin Ventures and founded by former CEO of Razorfish Jeff Dachis, has made its first acquisition: London-based social media agency Headshift. AV funded the new group to the tune of $50 million, to buy companies in the corporate social networking software and services space, it said back in April 2008.

Headshift, founded in 2003, offers social business consultancy “helping organizations use smarter, simpler, social technologies to improve business performance, communication, and customer engagement,” as it puts it. It has offices in United Kingdom and Sydney, Australia, and focuses on professional and legal services, consumer products, media and publishing, health care, and government verticals. It has clients such as AXA, British Petroleum, and the BBC. Expect some more small related tuck-ins from Dachis Group, likely in the U.S. market. Prior to this deal, the group had six employees and said has clients like Philips Healthcare, Coca-Cola, Intuit and Yum Brands. Some more info here.

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