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Oracle Corp. today announced its acquisition of social intelligence firm Collective Intellect. The terms of the deal were not disclosed.
Collective Intellect, which currently services customers like Hasbro, Walmart, Pepsi, Verizon and others, assists businesses in mining and analyzing data across social networks. With this purchase, which comes two weeks after Oracle’s $300-million acquisition of social marketing platform Vitrue, Oracle aims to bolster its social media savvy, turning “unstructured” customer conversations into actionable intelligence.
“Gaining intelligence from consumer conversations across social media, and knowing customers’ intentions and interests helps organizations create better products and deliver better service,” said Thomas Kurian, executive VP of Oracle Development. “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.”
The seven-year-old Collective Intellect had raised $14 million in venture financing before the Oracle buyout.