CHICAGO: Global media intelligence company Cision has acquired social media engagement platform Viralheat.
Viralheat’s technology will power Cision’s social services. The software, which includes rich analytics, will aid digital marketers and communicators in improving their marketing while strengthening data-driven decision making, according to a company statement.
"This acquisition represents Cision’s continued commitment to the investment around PR and social and the coming convergence around the entire marketing mix with categories like content marketing and PR starting to work more closely together," said Cision CEO Peter Granat. "What I liked about the Viralheat team and its technology is the end-to-end suite of tools that brings together monitoring, engagement, and analytics in a single toolset flexible enough for us to integrate back into our Cision product line."
As part of the deal, Viralheat CEO Jeff Revoy and cofounders Raj Kadam and Vishal Sankhla will become part of Cision’s senior management team.
There will be no layoffs resulting from the acquisition, Granat confirmed.
"Our appeal as we see this market converging is to take advantage of Cision’s portfolio and global reach, and to take our product and technology to their customers and beyond," Revoy said. "We also got to know the Cision team and saw it was a great cultural fit for Viralheat."
Viralheat’s technology is available immediately to Cision’s US customers.
Viralheat customers will experience no changes to their product. Later this year, they will gain access to additional Cision datasets and functionalities.
Throughout 2015, Cision will expand availability to include markets in Canada, Sweden, the UK, France, and Germany.
Cision and Vocus officially combined under the Cision brand last October.
Headquartered in Chicago, Cision has over 100,000 customers worldwide and maintains offices in Canada, the UK, France, Germany, Portugal, Sweden, Finland, and China.
"We are going to continue to look at overall landscape not just here in North America, but abroad as well, for other opportunities to continue to make investments in this space," Granat said. "We are looking at investments in social, content marketing, and traditional PR tools."
Financial terms of the deal were not disclosed.
This story was updated on March 23 with comment from Granat.