The Software Company “Oracle” has decided to buy the Social Media Marketer “Vitrue“.
TechCrunch has reported that the price will be over $300 million in cash.
Vitrue is one of the biggest of the social media marketing companies and it is a close partner to Facebook. Entrepreneur Reggie Bradford founded Vitrue in 2006 as a user-generated video company.
Vitrue partners with brands, marketers and agencies around the world to help them maximize their social community engagement through the powerful Vitrue Social Relationship Management (SRM) platform. The Vitrue SRM platform gives brands the ability to scale across multiple social networks, target global to local and publish content that engages fans and drives leads. In addition, Vitrue provides clients access to deep analytics, industry insights and best practices, product training options and high-touch customer service, giving brands a competitive advantage.
“The proliferation of social media and an increased demand by consumers to engage with brands across multiple social channels is driving chief marketing officers to look for an integrated social marketing platform,” said Thomas Kurian, executive vice president, Oracle Development. “Vitrue’s leading social marketing and engagement platform coupled with Oracle’s leading sales, service, and commerce products offers a complete social experience solution to our customers.”
“The world’s greatest brands have been built by creating meaningful relationships between organizations and their customers,” said Reggie Bradford, founder and chief executive officer, Vitrue. “As a part of Oracle, we can help our customers ensure that consistent high-touch social engagement is delivered across marketing, sales and service interactions.”
We can read below the announcement from Oracle.
Oracle announced today that it has entered into an agreement to acquire Vitrue, a leading cloud-based social marketing and engagement platform that enables marketers to centrally create, publish, moderate, manage, measure and report on their social marketing campaigns and activities on social media platforms such as Facebook, Twitter, YouTube and Google+.Vitrue’s social media SaaS marketing applications help customers amplify their social community engagement by giving marketers the ability to develop campaigns from global to local, across multiple social networks and devices, and publish content that engages fans and drives leads.Oracle’s leading sales, service, commerce, social data management and analytics capabilities, combined with Vitrue, are expected to create the most advanced and comprehensive social relationship platform.The combination is expected to help organizations develop more meaningful customer engagements with consistent brand experiences, improve their return on investment across all channels and media, and enhance customer service through real-time responsiveness and high touch relationships.The terms of the agreement were not disclosed. More information on this announcement can be found at http://www.oracle.com/vitrue.
