Oracle is acquiring social marketing platform company Vitrue in a deal reports value at $300 million, adding Vitrue’s capabilities to Oracle’s growing portfolio of cloud-based services.
Oracle said businesses needed an integrated social marketing solution for dealing with all of the different social channels with which consumers expect brands to engage, which is what Vitrue does. The company’s platform enables marketers to centrally create, publish, moderate, manage, measure and report on their social marketing campaigns and activities across Facebook, Twitter, YouTube, Google+, Pinterest and other social networks.
“Vitrue’s leading social marketing and engagement platform coupled with Oracle’s leading sales, service, and commerce products offers a complete social experience solution to our customers,” said Thomas Kurian, executive vice president, Oracle Development.
A few more details were shared with investors via the presentation embedded below.
Reggie Bradford, Vitrue founder and chief executive officer, wrote in a blog post that Oracle’s global sales force and “impressive client set” will help expand Vitrue’s reach. “Together, Oracle and Vitrue’s comprehensive social relationship management platform will improve companies’ return on investment for social by integrating sales and marketing across paid, owned and earned media; and enhancing customer service through seamless, real-time responsiveness and high touch engagement,” he wrote.
Oracle – press release
Oracle – open letter from Thomas Kurian, executive vice president, Oracle Development
Vitrue – official site
Vitrue – Reggie Bradford’s blog post
Photo by Flickr user AMagill, used under Creative Commons license