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Posted by Zach Hofer-Shall on May 11, 2010
After a weekend of speculation, today Lithium announced its acquisition of the social media monitoring tool, Scout Labs. Lithium is known for its community platform software, powering popular user communities like Best Buy's support forum and Barnes & Noble's Book Club and by integrating Scout Labs into its offerings, plans to track customers and brands on site through communities, and off site through social media. This deal strengthens Lithium's commitment to its message of "Social CRM", giving it a broader set of customer data to integrate.
This acquisition comes just weeks after Attensity announced its purchase of Biz360 and a few months after Jive bought Filtrbox. The growing number of acquisitions in the social media technology space is common for a young industry, but also indicates two distinct trends:
As more and more Customer Intelligence professionals focus on the importance of data-driven marketing, vendors focusing on analytics will continue to heat up. In this case, both social media technology and analytics merge for a powerful combination. With these growing trends, it's safe to say that the social media technology space is prime for more M&A and we're likely to see even more in the near future. Congratulations to both Scout Labs and Lithium on the deal.
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