Oracle had announced its intention to acquire Vitrue, a developer of applications used to manage social marketing campaigns, for an undisclosed sum.
Vitrue's social marketing and engagement platform is used by marketing professionals to centrally create, publish, moderate and manage social marketing campaigns, helping businesses reach out to customers through Facebook, Twitter, Google+ and YouTube.
Oracle said in a statement it will combine Vitrue's technology with its sales, service, commerce, social data management and analytics products "to create [an] advanced and comprehensive social relationship platform."
Vitrue's Software-as-a-Service applications will become part of the Oracle Cloud product lineup.
"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, 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 said it expects to complete the acquisition sometime this summer. Vitrue's management and employees are expected to join the company.
Privately held Vitrue reported in January revenue growth of 100 percent in 2011 from 2010. No financial data was provided.
Vitrue has more than 500 clients worldwide.
This article originally appeared at crn.com
Issue: 315 | May 2013
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