Two leaders in the social intelligence sector, Brandwatch, and Crimson Hexagon announced an agreement to merge both companies.
“Innovation has also been driven by other players in our field. The best of which has always been Crimson Hexagon. Today, I’m delighted to announce our merger with Crimson and welcome them to Brandwatch. We will move forward under the company name of Brandwatch and a blended leadership team drawn from both organizations,” said Giles Palmer, Founder, and CEO of Brandwatch.
Expected to close in Q4, this merger creates a combined $100 million annual recurring revenue business that will move forward under Brandwatch’s name.
“In this digitally connected world, our vision is to transform how organizations understand their consumers through products that bring structure and meaning to the public voices of billions of people. This merger allows us to accelerate towards that vision and move beyond social listening to innovate at the cross section of brand, market and consumer intelligence,” Palmer added.
The integration of the products is said to have been set in motion. However, both products will continue to be supported and operate independently for an extended period.
The company formed through the merger will make use of Crimson Hexagon’s AI and historical data index with Brandwatch’s data handling and UI, creating massive value for users. Additionally, the company will also add more data from marketing, customer behavior, and market research sources to the platform to expand beyond social intelligence.
“Our clients tell us that they need a faster, richer understanding of their markets and consumers based on public and proprietary data they trust. They need global reach, world-class professional services and fast, intuitive products they can put in the hands of non-analysts as they become more data-driven. This merger creates the best platform to provide this value to clients. We’re excited to take this to the next level,” said Palmer.
“We believe that our AI capabilities are unmatched in this industry, and our many customer successes bear witness to the value that it has driven over the years,” said Chris Bingham, Chief Technology Officer at Crimson Hexagon. “I am very excited to know that our 11-year investment in AI and Machine Learning is so valued by Brandwatch, and that it will be at the very core of our new integrated platform.”
