Global software as a service media intelligence and social analytics provider Meltwater is continuing its expansion with the acquisition of business information company Owler.
Meltwater will purchase Owler for $18.9 million in cash and $5.6 million in Meltwater equity. The Owler executive team and all staff plan to join Meltwater when the acquisition is complete.
Founded in 2011, Owler crowdsources information about companies from business professionals. There are 5 million active business professionals who provide information about 14 million companies that is not readily publicly available. This data includes private company revenue estimates, strength of competitors, CEO approval ratings, employee headcount, growth trends, corporate hierarchy, rate of innovation and information about diversity, culture and employee trust.
This proprietary information will complement the insights Meltwater already provides to its customers, including news and social media data, Meltwater said. The company examines millions of posts daily to help drive better decision-making for companies.
Owler is Meltwater’s third acquisition since December 2020.
In Q1, Meltwater said it was planning to acquire Linkfluence, a French Saas company that uses artificial intelligence to gather consumer insights from social media, helping users identify where their target audience is and how to engage with it.
In April, Meltwater acquired Klear, an influencer marketing company that uses algorithms and AI to help customers identify influencers, manage influencer relationships and measure impact.