Combining the two companies will give brands a more complete perspective on who their customers are and what they’re seeking, Lithium says.
Lithium Technologies Inc. has acquired Klout Inc., a social media analytics firm known for its Klout Score, which measures consumers’ and brands’ social media influence by tracking how the online content they create spreads.
Lithium, which provides customer service management tools to retailers like Best Buy Co. Inc. and Sephora USA Inc., says it plans to combine Klout’s ability to measure consumers’ online reputations with its own technology for tracking and measuring online conversations about brands. Combining the two companies will establish “one of the biggest data footprints of consumer attitudes, preferences and activities on digital channels,” Rob Tarkoff, Lithium President and CEO, writes in a blog post.
“With Klout, Lithium fully delivers on its vision of building a trusted online connection between consumers and the brands they care about,” Tarkoff says. “Trust is the currency online. For consumers, a trusted expert provides greater confidence in making purchases and getting advice. For brands, building a trusted reputation allows them to better find and keep customers.”
Klout CEO and co-founder Joe Fernandez will join Lithium as a general manager and a senior vice president. In that role, he will continue to oversee Klout.
Neither company disclosed the deal’s terms.