Shopping spree continues
Oracle has continued its social media CRM spending spree with the acquisition of Collective Intellect.
Following the recent purchase of Vitrue, Oracle is showing how serious it is about social marketing with by snapping up real time social monitoring firm Collective Intellect.
The cloud based platform allows businesses to transform conversation on social media platforms such as Facebook or Twitter into data intelligence.
This enables users to provide better marketing campaigns and improve customer service and so forth using real time customer feedback.
Cisco is aiming to integrate Collective Intellect with its own SaaS offerings to help create more targeted marketing campaigns, and help users respond quickly to social media feedback using Oracle’s own data analytics and management.
Terms of the acquisition were not revealed.
“Gaining intelligence from consumer conversations across social media, and knowing customers’ intentions and interests helps organizations create better products and deliver better service,” said Thomas Kurian, executive vice president, Oracle Development.
Kuran said that Collective Intellect’s cloud-based applications for social media monitoring would be combined combined with Oracle’s social relationship platform to offer a “complete social experience to our customers.”
Alongside the acquisition of Vitrue, Oracle is highlighting growing importance of social media as technology shakes up traditional methods, also creating opportunity for the channel.
There has been a flurry of activity recently, major firms such as Google and Salesforce sizing up acquisitions. After mounting speculation last week, Salesforce announced that it had won the bidding war to snap up BuddyMedia for $689 million.
Salesforce also recently added Radian6, while Adobe bought up Efficient Frontier last year to push its own social CRM offerings.