In the US, social media management and online community solutions provider Lithium Technologies has agreed to be acquired by Vista Equity Partners for an undisclosed sum.
Lithium provides 'social customer relationship management' (SCRM) solutions, to enable clients to create and manage their own social media customer networks, while its Lithium Insights analytics tool measures and benchmarks the 'health' of online communities.
The firm's Board has unanimously approved the sale to Vista, which recently acquired brand and pricing intelligence specialist Market Track, and also owns online survey technology firm Cvent, agricultural data and analytics specialist AGDATA, and cloud-based marketing software developer Marketo.
Through the deal, Lithium will maintain its headquarters in San Francisco and continue to operate 'business as usual'. President and CEO Rob Tarkoff (pictured) comments: 'Our vision of helping brands build amazing digital customer experience at scale remains the same, and we will continue to develop the leading engagement platform to provide more value to our customers. This transaction with Vista gives us the opportunity to accelerate our plans to create a consolidated Digital Customer Experience software stack that will be the best in class for enterprise brands'.
Web site: www.lithium.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.