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.