Oracle Acquires Social Marketing Company Vitrue
Enterprise service provider Oracle has just purchased Vitrue, a cloud-based social marketing platform that integrates brands with major networks like Facebook, Twitter, and Google+, as well as emerging platforms like Instagram, Pinterest, and Klout. Social media marketing is definitely hitting the main stream with this one.
Oracle currently provides business software and hardware to 100 of the Fortune 100 companies and other clients in 145 countries. The company has been in the news lately because of a patent lawsuit with Google over Java technology. But Oracle has also been on an acquiring spree of other cloud-based services. In February, Oracle acquired the human resources software company Taleo Corp. for $1.9 billion. In October 2011, Oracle bought RightNow Technology, a customer service company, for $1.43 billion. The Wall Street Journal reports that the company will also buy ClearTrial LLC, which provides software for biopharmaceutical and medical-device companies.
This latest acquisition rounds out the company’s other services with social marketing and engagement options. “The proliferation of social media and an increased demand by consumers to engage with brands across multiple social channels is driving chief marketing officers to look for an integrated social marketing platform,” said Thomas Kurian, executive vice president of Oracle Development in a statement. “Vitrue’s leading social marketing and engagement platform coupled with Oracle’s leading sales, service, and commerce products offers a complete social experience solution to our customers.”
Oracle confirmed the deal earlier this morning and, according to TechCrunch, paid $300 million. Vitrue, a privately-held company based in Atlanta, has raised $33 million in funding since it was founded in 2006. Vitrue founder and CEO Reggie Bradford will join Oracle following the transaction, but has not announced what his role will be.
Vitrue’s current customers include McDonald’s, Lowe’s, and American Express. “The world’s greatest brands have been built by creating meaningful relationships between organizations and their customers,” said Bradford. “As a part of Oracle, we can help our customers ensure that consistent high-touch social engagement is delivered across marketing, sales and service interactions.”
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