Marketing software giant Cision announced today that it has entered into an agreement to acquire Brighton, UK-based digital consumer intelligence company Brandwatch.
The deal, which was pegged at $450 million, is expected to close sometime in 2021’s second quarter.
Founded in 2007 by CEO Giles Palmer, Brandwatch is a subscription-based service that applies AI and machine learning to social media monitoring for a customer base of more than 2,200 brand and agency clients. The software company maintains 10 offices globally.
Cision in a statement said the acquisition would provide its customers with a broader range of consumer and media intelligence services, allowing them to devise more effective customer engagement strategies from PR to marketing and online customer engagement.
When executed properly, PSAs have unique staying power and register with the viewer on a much different level than mere ads trying to sell something, explained 4media group chief client officer Laura Pair at the Mid-Atlantic MarCom Summit Oct. 9 in Washington, D.C.
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