SAN FRANCISCO: Meltwater has acquired Sysomos, marking the media intelligence company’s seventh acquisition in 18 months.
Sysomos, a social analytics software company, will not retain its brand. The company will become Meltwater’s social analytics division, led by Sysomos CEO Peter Heffring. Sysomos chief product officer Erica Jenkins will also join. Terms of the deal weren’t disclosed.
Heffring said the Sysomos platform will "leverage the AI models and information extracted from the unstructured web by Meltwater."
"We are also adding [Sysomos’] social engagement solutions to our range of products, which will help our clients effectively and easily manage their social channels across Twitter, Facebook, Instagram, Pinterest, and more," Niklas de Besche, the executive director of Meltwater’s products, added.
Last April, Sysomos launched a unified AI-powered platform combining its search, discovery, listening, publishing, engagement, and analysis tools.
"The acquisition is really part of our expansion into other buying centers and departments to the benefit of our current client base," said de Besche. "We see a huge opportunity, from PR to marketing and beyond, to deliver more sophisticated insights from social data. And that works toward our greater mission to give businesses the insights from outside data that they need to stay ahead."
Last month, Meltwater acquired DataSift, a London-based company described as an entity that "pulls data from conversations across social, news, and blog platforms, anonymizes it, and then parses it for insights for third party organizations," per TechCrunch.
Neither DataSift nor Meltwater has disclosed its valuation. DataSift has raised about $72 million in funding.
Early last year, Meltwater secured $60 million in debt funding with Silicon Valley Bank and Vector Capital to pursue acquisitions.
"We are a bootstrapped company that's been around for 17 years," de Besche said. "Traditional VC works well for younger businesses. Debt-funding makes more sense for a profitable, cash-flow positive and proven business like ours."
Meltwater also acquired Wrapidity last year, kicking off a buying spree that would see the company snap up six more companies, including Sysomos.
Three of the target companies – Algo, Cosmify, and Sysomos – are based in North America, according to Crunchbase. Others come from the U.K. and APAC.
In June 2017, Meltwater acquired a competitor in the Canadian market, Infomart, for $30 million.
"While some have had immediate client benefits, such as Infomart, others have been more technology-related to strengthen our investments in data science, machine learning, and AI as we expand beyond PR and communications solutions," de Besche said. "We have a big year ahead – the business is growing at a steady clip organically, and the recent acquisitions are obviously adding to it."
Editor's note: This story was updated on April 25 to clarify the number of North America-based companies acquired by Meltwater.