IBM today announced a definitive agreement to acquire Coremetrics, a leader in web analytics software. IBM says that the acquisition of Coremetrics, a privately held company based in San Mateo, Calif., will expand its business analytics capabilities by enabling organizations to use a cloud-based delivery model to gain real-time insight into consumer interactions internally and through social media networks to develop faster, more targeted marketing campaigns. Financial terms were not disclosed.
According to IBM, relevant business information is being generated every second on the web. Today, 70% of a consumer's first interaction with a product or service takes place online. Through Coremetrics, IBM is gaining the ability to help businesses rapidly gain intelligence into social networks and online media sources through a cloud-based delivery model and incorporate this insight into their business processes to create smarter, more effective marketing campaigns.
"With this acquisition, we are extending our capabilities to give clients greater insight about customer behavior and sentiment about products and services, and give true foresight into their future buying patterns," states Craig Hayman, general manager, IBM WebSphere. "Marketing departments can benefit from these capabilities very quickly because we are delivering this in a Software-as-a-Service model. The combination of IBM and Coremetrics will maximize marketing expenditures and also make the buying experience more convenient, personal and interactive for consumers."
For more information, go here.