We scooped this news last week but it’s official. Brand tracking application Scout Labs has been acquired by social CRM company Lithium Technologies, according to a blog post on Scout Labs’ site. We initially reported the acquisition price to be in the $20 million – $25 million range, in a stock and cash transaction.
We first covered Scout Labs in late 2007 when it was still in private beta. More recently the startup updated their UI and improved on the product. It’s one of the more compelling tools in helping brands and companies track and monitor what is being said about them on the web. Plus, its pricing model was affordable for both large and small businesses.
Lithium Technologies was founded in 2001 and focuses on a broader range of social CRM solutions. To date though their product suite has focused on retaining and communicating with existing customers.
In the blog post announcing the acquisition, CEO and founder Jennifer Zeszut wrote that together, Scout Labs and Lithium will “create a true Social CRM platform with a lens on the whole customer.” Existing Scout clients will still be able to use the product at the same affordable prices, but now its application will gave the ability to include much more data for clients.
Scout Labs is a powerful, web-based application that finds signals in the noise to help your team build better products and stronger customer relationships. Scout Labs is a product company, not an agency. They provide cutting-edge technology and a collaborative platform for companies and their agents to listen to customers and engage with them out across the Internet. With Scout Labs, users can: Know when to tune in and what’s most important to pay attention to Hear what customers love and hate...
Lithium helps companies unlock the passion of their customers. Lithium software powers amazing Social Customer Experiences for more than 400 iconic brands including AT&T, BT, Best Buy, Indosat, Sephora, Skype and Telstra. Lithium helps companies grow brand advocacy, drive sales, reduce costs and accelerate innovation to create social communities that redefine the customer experience. For more information, visit lithium.com, or connect with us on Twitter, Facebook and our own community–the Lithosphere. Lithium is privately held with corporate headquarters in...
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