The Meltwater Group, a social media and news monitoring company, announced the acquisition of social CRM software JitterJam. The companies plan to focus on creating tools for tracking and engaging customers for marketing, communications, and advertising professionals. The purchase was made for $6 million, and per the terms of the agreement all of JitterJam's employees will be joining Meltwater.
Meltwater delivers news and social media monitoring and search engine marketing solutions to more than 18,000 customers, while JitterJam combines email, social media and mobile engagement with an intelligent contact database to provide an integrated consumer engagement and marketing platform. The JitterJam platform is built for consumer-facing companies looking to generate revenue from social, mobile, and email engagement and marketing. The platform will be integrated over time with the Meltwater Buzz product.
In addition to JitterJam, Meltwater acquired BuzzGain last year and intends to acquire more businesses and technologies to help the company further expand its product suite.