Scout Labs, a startup that lets brand owners track what’s being said about them on new and social sites, has been acquired by Lithium Technologies in a stock and cash transaction, we’ve confirmed from multiple sources. We believe the purchase price is $20 million – $25 million.
We first covered Scout Labs, which was created in the Minor Ventures incubator, in late 2007 when it was still in private beta. More recently they updated their UI and improved on the product. We’ve found it to be best in class in auto-determining sentiment and giving brand managers a good real time overview of what’s being said about them.
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. Scout Labs brings in the new dimension of seeing what the Internet in general is saying about your products and services. The company has raised $44 million in venture capital.
We expect the deal to be announced shortly.