SocialInSight, an online community that mixes investing with social media, has purchased SocialPicks-a company that also crosses investing with social media-from FinancialContent Services. SocialInSight sees the acquisition as a way to strengthen and bolster its position in the community of the online investing and as a way to get attached to a growing brand.
Despite the fact that it was purchased, SocialPicks will not be absorbed into SocialInSight. SocialPicks will get some retooling be re-launched this fall after new social investing apps are tested on the site. The purchase amount was not disclosed.