The marketing software business sold in April by IBM has a new name, Acoustic, following the completion last week of its acquisition by private equity firm Centerbridge.
Centerbridge said in April it would set up a new standalone company, offering a portfolio of solutions for CMOs. The company of 1,100 people is led by a team of former IBM execs and headed up by CEO Mark Simpson (pictured), and already boasts 3,500 clients. Acoustic's Marketing Cloud includes mobile and web analytics (from IBM's acquisition of Tealeaf), tools for campaign automation and real-time personalization tools, journey analytics and lifecycle pricing (from DemandTec), as well as a content hub and payments software.
Interviewed by online publication www.dmnews.com , Simpson said the firm has 'shed itself of some of the legacy technologies and older ways of working, so that we can purely focus on the marketing division within an organization as a client', and that it was investing between $10m and $20m over the next 12 months to completely revamp the product and add in 'key future-looking technologies and processes, such as data privacy, and AI' where he says the firm is 'already leading the space'. He sums up: 'We're architecting around a much more modern platform than our competitors have, and that will stand us in great stead in terms of pushing our company out there in the market'.
In a blog post, Simpson said that unlike competitors the firm would focus on serving CMOs, giving them a consistent view of their customer, and helping to join up the data, 'to make the CMO win... I don't think there is the focus on that in the market at the moment. Nice words, but the CMO is struggling to connect what they have at the moment, and that's where we're going to be very strong'.
Web site: www.acoustic.co .
All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.