TNS will combine Cymfony's expertise in tracking and analysing the intersection of traditional and social media, such as blogs and social networks, with its suite of advertising intelligence products allowing it to ramp up its coverage of social media.
The importance of social media in the marketplace was underlined by a recent report issued by web based intelligence firm Compete, which said that two-thirds of online consumers have visited social networking websites and have increased their use of these sites 414% in the past three years.
TNS said social media's strong influence on consumer purchasing habits has driven billions of dollars into online retail, meaning that market research firms were now having to get to grips with how to measure, understand and respond to its growth.
According to TNS the acquisition will also allow marketers to access a deeper understanding of consumer purchase decisions, and reactions to advertising and public relations through Cymfony's analytics and propriety data.
Steven Fredericks, president and chief executive officer at TNS Media Intelligence, said combining Cymfony's expertise with TNS Media Intelligence would, "bring marketers closer to today's newly empowered consumer, enabling them to make smarter, faster decisions in this rapidly changing marketing environment".
Andrew Bernstein, chief executive of Cymfony, added: "As marketers increase their activities in the emerging social media channel, they will have an integrated partner to turn to for guidance and insight analysed within the context of the entire marketing landscape with TNS MI."
Cymfony, was founded in Boston Massachusetts in 1996.
This article was first published on brandrepublic.com