Oracle announced an agreement to acquire cloud-based social marketing platform Virtue.
Virtue is designed to let marketers manages social marketing campaigns across Facebook, Twitter, YouTube and Google+ from one place.
Oracle wrote in a blog post:
The proliferation of social media has changed the way that organizations and consumers interact. Vitrue's social marketing platform helps organizations enhance their social marketing efforts to the next level of social engagement by giving brands the ability to scale across multiple social networks, target messages from global to local, create unique and consistent brand experiences, and publish content that engages fans and drives leads.
Together, Oracle and Vitrue plan to enable a unified social experience across customer interactions, resulting in meaningful customer engagements with consistent brand experiences across all channels and media; improved return on investment for social sales and marketing campaigns across paid, owned and social media; and enhanced customer service through real-time responsiveness and high touch engagement.
“The world’s greatest brands have been built by creating meaningful relationships between organizations and their customers," said Virtue CEO Reggie Bradford. “As a part of Oracle, we can help our customers ensure that consistent high-touch social engagement is delivered across marketing, sales and service interactions.”
Terms of the deal were not disclosed, though TechCrunch indicates the price is $300 million. The deal is expected to close this summer. In the meantime, the two companies will continue to operate independently.