Industry News Desk
Oracle to Buy Collective Intellect
Terms were not disclosed but the seven-year-old start-up appears to have raised only $14 million since it kicked off
By: Maureen O'Gara
Jun. 6, 2012 10:00 AM
Oracle has signed the papers to buy Collective Intellect, a Boulder, Colorado cloud-based analytics outfit that attempts to wring meaning from consumer conversations on social media platforms like Twitter, YouTube and Facebook.
The widgetry is supposed to divine customers' intentions and interests, track trends, create better marketing campaigns, products and customer service and result in more targeted leads.
Collective Intellect claims CNBC, Viacom Media Networks, Hallmark, PepsiCo, Nestle Purina Pet Foods and General Mills as clients. Apparently it predicted that a major discount retailer wouldn't meet its sales projections over Black Friday and Cyber Monday based on consumer purchasing intent for CNBC News.
Its semantic analytics engine is said to process tens of millions of conversations a day.
Terms were not disclosed but the seven-year-old start-up appears to have raised only $14 million since it kicked off. The acquisition is supposed to close in the second half.
Oracle will add Collective Intellect to its pending acquisition of Vitrue and its existing Software-as-a-Service products in the name of building a comprehensive social relationship platform. Oracle is reportedly spending $300 million on Vitrue.
On Monday Salesforce.com agreed to Buddy Media, a social media marketing concern, for $689 million.
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