Software firm Oracle has agreed to acquire Collective Intellect, a cloud-based social intelligence technology provider for undisclosed sum, in a bid to enter into the corporate social media app market.
Collective Intellect’s cloud-based social intelligence applications enable organisations to monitor, understand and respond to consumers’ conversations on social media platforms.
The company’s text mining technology facilitates enterprises to monitor, understand and respond to consumers’ conversations on social media platforms such as Facebook and Twitter.
The company’s cloud-based applications will help organisations transform social conversations into actionable intelligence.
Oracle’s sales, marketing, service, commerce, social data management and analytics, combined with Collective Intellect is expected to create advanced social relationship platform.
Collective Intellect will be integrated with Oracle’s Software-as-a-Service products and Social Platform to enable marketing organisations to create targeted marketing campaigns and help customer service teams respond quickly to customer feedback on social media.
Oracle said the combination will also generate targeted leads, opportunities for sales teams and strengthen how companies build effective brands using the Internet and social media.
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The acquisition is expected to enable organisations to build strong relationships with consumers through intelligent understanding of their social conversations and to respond with appropriate action and engagement, the company said.
Oracle Development executive vice president Thomas Kurian said gaining intelligence from consumer conversations across social media, and knowing customers’ intentions and interests helps organisations create better products and deliver better service.
"Collective Intellect’s leading cloud-based applications for social media monitoring, combined with Oracle’s social relationship platform offers a complete social experience to our customers," Kurian said.
