Today, social customer management software company Lithium Technologies officially acquired Klout. Previous reports about the acquisition looked positively at the deal for both companies. According to the release announcing the news, the two companies combined will “reach more than 500 million consumers across 10,000 specific interest areas and 300+ branded communities.” Klout recently unveiled a site redesign to focus on content creation.
“With Klout, Lithium fully delivers on its vision of building a trusted online connection between consumers and the brands they care about,” said Lithium president and CEO Rob Tarkoff in the release announcing the news. Klout CEO Joe Fernandez called the deal a “proud moment” for the company.
According to the announcement, the partnership will enable brands to:
- Build a more complete profile of their customers and their needs.
- Establish clear feedback on how consumers value brands, products and services.
- Engage consumers more effectively and enlist their participation in growing the brand and the business.
- Leverage experts for opinions and trusted content.
For consumers, this means they can:
- Discover which people and brands to trust.
- Enjoy a better, differentiated experience from brands they value.
- Receive rewards and recognition from brands for their loyalty and engagement.
While Lithium did not disclose the terms of the deal, Fortune reports that it’s valued at almost $200 million and is a mix of cash and Lithium stock.