Social media and news monitoring company, The Meltwater Group, has acquired Social CRM software company JitterJam. Meltwater purchased JitterJam for $6 million, and all of JitterJam’s employees will join Meltwater.
Meltwater has revenues of around $100 million a year company. The company has 55 offices around the world serving more than 18,000 customers. JitterJam combines email, social media and mobile engagement with an intelligent contact database to provide businesses with an integrated consumer engagement and marketing platform. The JitterJam platform is built for consumer-facing companies who are looking to generate ROI from social, mobile and email engagement and marketing. The JitterJam platform will be integrated over time with the Meltwater Buzz product.
“Meltwater was bootstrapped with $15,000 ten years ago and has now grown to a $100 million leader without external funding in the online media monitoring space. Also, we have proven we have the expertise to achieve rapid success in emerging markets,” said Jorn Lyseggen, chief executive officer and founder of Meltwater Group. “The Social CRM space is clearly experiencing fast growth and within three years we aim to generate $100 million a year in Social CRM solutions alone. The JitterJam technology and talent will help us achieve this goal.”
Meltwater acquired BuzzGain last year and says it intends to acquire more businesses and technologies to help the company further expand its product suite.
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