Lanham, Md. – Vocus, a developer of marketing and public
relations software, said it has acquired Oakland, Calif.-based North Social, a
developer of Facebook applications designed to help users create, manage and
promote their businesses on the popular social network.
Under the deal, Vocus
paid $7 million in cash at closing, and could pay up to $18 million more, based
on North Social’s performance over the next two years.
"Social media is
changing the way consumers evaluate and purchase products and Facebook is
becoming an increasingly important channel for organizations to engage
consumers and influence this new buying cycle," said Rick Rudman, the
president and CEO of Vocus.
North Social offers 19 different Facebook apps
delivered through a single self-service subscription, and counts more than
1,300 clients, including Coca-Cola, Sony and Hard Rock Café.
The software
allows users set up custom Facebook pages, integrate photos and videos and
incorporate feeds from sites like Twitter and Yelp.
The company’s operations
and staff will remain in Oakland.
Related Links:
http://tinyurl.com/4jzcub6
