Technology firm Brandwatch has acquired London-based social media analytics specialist PeerIndex, for an undisclosed amount of cash and equity.
PeerIndex was founded in 2009 by former Guardian correspondent Azeem Azhar, ex-McKinsey consultant Ditlev Schwanenflügel, and Bill Emmott, the former Editor of The Economist. In September, the firm launched a crowdfunding campaign, looking to raise $500k for further product development in exchange for a 10% stake in the company.
Brandwatch, making use of $22m raised earlier this year, says it will integrate PeerIndex's tools directly into its own portfolio - these include its influencer analysis technology, 300 million+ author profiles, and more than four years of Twitter author data. The PeerIndex London office will form part of Brandwatch's presence in the UK, and all ten of its team will join Brandwatch, including Azhar who will lead a stealth product combining the two technologies.
Giles Palmer (pictured), Brandwatch CEO, comments: 'Content without context only goes so far, and we're telling the world just that with our acquisition of PeerIndex. Understanding more about the actual people behind the conversations happening online is crucial to marketers, and this is about creating technologies that will allow them to target audience segments at scale with astonishing accuracy.'
Web sites: www.brandwatch.com and www.peerindex.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.