Alterian Buys Social Media Specialist Intrepid

UK-based marketing and engagement analytics software provider Alterian has acquired US-based Intrepid, which focuses on market research and social media analytics, in a deal worth up to $11.5m.

The transaction will provide Intrepid's founder and CEO John Song with an initial $3.5m in cash. A further $7.5m will be payable if his firm meets performance targets by 2013, along with an additional $650k bonus pot for key staff.

Intrepid's insights help integrate social media into mainstream marketing. The company has around 40 staff, and offices in Seattle and London, as well as a rapidly growing analytics team in Ho Chi Minh City, Vietnam. The firm is a long standing user of Alterian's social media monitoring and analytics product, Alterian SM2.

'The addition of Intrepid into the Alterian portfolio gives our partners and customers access to an extremely talented group of people with a deep track record in social media analytics and market research,' says Alterian CEO David Eldridge. 'It also strengthens our position in social marketing, as we help marketers address new channels and build engaging dialogues with their customers.'

Web sites: www.alterian.com and www.thinkintrepid.com .