CLOUD
CLOUD
CLOUD
Brandwatch and Crimson Hexagon to merge into $100M social intelligence provider
Brandwatch and Crimson Hexagon Inc., two of the biggest players in the social media intelligence market, today revealed plans to merge into a single entity with annual recurring revenues of $100 million.
The deal is expected to close by the end of the year. The combined company will launch under the Brandwatch name with an initial focus on integrating the startup’s social media analytics technology with that of Crimson Hexagon.
U.K.-based Brandwatch offers a set of services that enable companies to analyze the vast amounts of user-generated content on social media for insights into consumer sentiment. The offerings help brands measure their public perception and other high-level patterns, as well as surface individual posts such as customer complaints. Brandwatch also provides collaboration features for sharing information within an organization.
The merger will see the data management features in Brandwatch’s interface combined with the artificial intelligence features and social media records that Crimson Hexagon brings to the table. The Boston-based company boasts a database of over 1.2 trillion pieces of content from a billion people that it describes as the largest of its kind.
After the merger, the combined company will work to extend the scope of this repository beyond social media by mixing in information from other sources such as market research providers. At the same time, Brandwatch and Crimson Hexagon said they plan to continue supporting their existing services. A joint announcement stated that the offerings will remain available for an “extended period.”
Brandwatch Chief Executive Officer Giles Palmer wrote in a blog post that company’s integration roadmap will be supported by an engineering team of more than 200 people. The combined entity is also set to inherit a customer base of several thousand organizations that includes big names such as Walmart Inc., Dell Technologies Inc. and Adidas AG.
Brandwatch has raised over $64 million from investors, while Crimson Hexagon is backed by $33.5 million in funding.
Image: Brandwatch
Since you’re here …
… We’d like to tell you about our mission and how you can help us fulfill it. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content.
If you like the reporting, video interviews and other ad-free content here, please take a moment to check out a sample of the video content supported by our sponsors, tweet your support, and keep coming back to SiliconANGLE.
