Today, Software-as-a-Service provider, Oracle announce its plans to acquire Collective Intellect, a cloud-based social media monitor.
The addition of Collective Intellect will allow Oracle to offer organizations quicker response to media feedback, more specifically targeted advertising, and a chance to generate more leads.
Both entities will continue to operate independently, but oracle will directly benefit from the ability to offer its current and future customers the advantage of real-time social monitoring and analytics. The results of which will be more effective brand and product placement with improved consumer engagement.
Thomas Kurian, executive vice president of Oracle Development comments on the acquisition of Collective Intellect:
“Gaining intelligence from consumer conversations across social media, and knowing customers’ intentions and interests helps organizations create better products and deliver better service,”
“Collective Intellect’s leading cloud-based applications for social media monitoring, combined with Oracle’s social relationship platform offers a complete social experience to our customers.”
Don Springer, Founder and Chief Strategy Officer of Collective Intellect comments on the acquisition by Oracle:
“Creating meaningful content based on a clear understanding of consumers’ conversations is the way brands will create stronger customer relationships,”
“Collective Intellect’s semantic analytics platform provides cutting-edge technology to Oracle that will create a winning combination as brand-to-customer relationships move from transactional to social.”
Here's the facts about the acquisition from Oracle's press release:
* Oracle announced today that it has entered into an agreement to acquire Collective Intellect. Collective Intellect’s leading cloud-based social intelligence solutions enable organizations to monitor, understand and respond to consumers’ conversations on social media platforms such as Facebook and Twitter.
* Collective Intellect’s cloud-based solutions help organizations transform social conversations into actionable intelligence, creating better marketing campaigns, improving customer service, generating more targeted leads and opportunities, and enhancing products and services with real-time customer feedback.
* Oracle’s leading sales, marketing, service, commerce, social data management and analytics, combined with Collective Intellect and the recently announced pending acquisition of Vitrue, is expected to create the most advanced and comprehensive social relationship platform.
* By integrating Collective Intellect with Oracle’s Software-as-a-Service products and Social Platform, Oracle will enable marketing organizations to create more targeted marketing campaigns; help customer service teams respond quickly to customer feedback on social media; generate targeted leads and opportunities for sales teams; and strengthen how companies build more effective brands using the Internet and social media.
* The combination is expected to enable organizations to build stronger relationships with consumers through intelligent understanding of their social conversations and to respond with appropriate action and engagement.
* The terms of the agreement were not disclosed. More information on this announcement can be found at http://www.oracle.com/collectiveintellect.
Collective Intellect is a private company founded in Boulder, Colorado in 2005. The financial particulars of the deal have net yet been disclosed. The acquisition is expected to be completed in second half of 2012.