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Boston social marketing company BzzAgent has been acquired by dunnhumby Ltd., a shopper data unit of U.K. retail giant Tesco, in a deal that underscores retailers’ growing interest in social media.
The transaction, under which BzzAgent will operate as a stand-alone business, is valued around $60 million to the company’s senior management and investors, said sources.
BzzAgent uses word-of-mouth recommendations to drive brand sales and was founded in 2001 by Dave Balter, who will remain CEO and will also join dunnhumby's executive team.
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