Oracle has opened up its wallet to purchase social intelligence company Collective Intellect.
The deal comes two weeks after it acquired marketing firm Vitrue for $300 million. Terms of this new deal were not disclosed.
Collective Intellect was founded seven years ago and develops tools to let businesses optimise how they monitor and respond to customers’ comments on Facebook, Twitter and other social platforms. The firm’s cloud-based service turns these social conversations into actionable intelligence in the hope that this improves the customer experience and generates new business leads.
Oracle said that the purchase was part of on-going efforts to boost the range of social intelligence tools it offers to its customers.
The database giant will integrate Collective Intellect with its SaaS products and Social Platform. This, it said, will enable marketing organisations to create more targeted marketing campaigns; help customer service teams respond quickly to feedback on social media; generate targeted leads and opportunities for sales teams; and strengthen how companies build more effective brands using the web and social media.
“Creating meaningful content based on a clear understanding of consumers’ conversations is the way brands will create stronger customer relationships,” said Don Springer, founder and chief strategy officer, Collective Intellect.
“Collective Intellect’s semantic analytics platform provides cutting-edge technology to Oracle that will create a winning combination as brand-to-customer relationships move from transactional to social.”
