Newswire company Marketwire said today that it has acquired social media monitoring company Sysomos. Terms of the deal were not disclosed.
Social media monitoring and analysis continues to be an incredibly hot space, with media companies from Dow Jones and Reuters and marketing and technology companies including Vocus and Lithium all fighting for market share.
Shift Communications principal Todd Defren and FutureWorks principal Brian Solis both endorsed the deal in a press release.
The deal makes sense for Marketwire, who will use the new offerings provided by Sysomos in an attempt to up-sell clients already working with the company for press release distribution.
Sysomos itself has generated PR recently by issuing frequent data reports on social media usage and trends.
PRNewser caught up with Marketwire president and CEO Michael Nowlan today, who did not rule out additional acquisitions.
“In any business, you can either build, partner, or buy. Given the speed that things are moving at, if it’s what our clients are saying is a core competency, I don’t want to partner, I want to own it,” he said, in reference to the Sysomos deal and potential future acquisitions.
Nowlan said that Sysomos has about 250 clients, ranging from global PR firms Edelman and Hill & Knowlton to brands like Proctor & Gamble and HSBC. Sysomos will continue as a brand, and the company’s management team will continue at Marketwire.
The Sysomos product set is being sold by Marketwire’s sales team “immediately,” he said, and the product set will be integrated into Marketwire’s dashboards and platform, “within the very near future.”
In reference to the crowded social monitoring space, Nowlan said that after looking at various alternatives, “Sysomos was the best of the options out there.”