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Social Media Trackers Merge
Social media and news monitoring giant The Meltwater Group has acquired social media CRM software provider JitterJam for $6 million.
 All of JitterJam's employees will join Meltwater.
The firms say that together they will 'provide marketing, communications and advertising professionals with the most comprehensive set of tools for tracking and engaging with customers on social channels...'
Founded in 2008, JitterJam is headquartered in Bedford, NH, USA and combines social media monitoring, an intelligent contact database and a multi-channel digital marketing platform into a single, integrated system including email and mobile media. Its platform will be integrated over time with Meltwater's 'Buzz' product.
Norway-based Meltwater has taken only ten years to grow into a $100 million a year company offering news and social media monitoring and search engine marketing solutions. It boasts 55 offices around the world serving more than 18,000 customers. CEO and founder Jorn Lyseggen says the firm has 'also proven it has the expertise to achieve rapid success in emerging markets'. He comments: '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.'
Ric Pratte, co-founder, President and Chief Exec of JitterJam says his team has been 'tremendously impressed' by the new owner's growth and enthuses: 'Meltwater's expertise, highly impressive customer base and exceptional sales organization will help us bring the integrated JitterJam platform to a primed worldwide audience.'
Meltwater, which also acquired BuzzGain last year, says it is seeking further acquisitions to expand its product suite.
Web sites are at www.jitterjam.com and www.meltwater.com .
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