Oracle Acquires Social Marketing Vendor Vitrue In $300M Deal
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Oracle has long been known for spending big money buying its way into hot new markets. This week's example: The software giant's announcement that it has purchased social marketing platform vendor Vitrue.
The Vitrue platform gives marketers a single set of tools to manage their presence on Facebook, Twitter, Pinterest, YouTube and other social media platforms. It includes an integrated set of content creation, publishing, moderation, management and reporting/analytics tools designed for social marketing campaigns.
Vitrue is a privately-held company based in Atlanta. Although an Oracle press announcement did not disclose the purchase price, TechCrunch reported the deal to be worth $300 million and cited a source that described the company as "nearly profitable."
An Oracle press release stated that "Oracle's leading sales, service, commerce, social data management and analytics capabilities, combined with Vitrue, are expected to create the most advanced and comprehensive social relationship platform."
"The proliferation of social media and an increased demand by consumers to engage with brands across multiple social channels is driving chief marketing officers to look for an integrated social marketing platform,” said Thomas Kurian, executive vice president, Oracle Development. “Vitrue’s leading social marketing and engagement platform coupled with Oracle’s leading sales, service, and commerce products offers a complete social experience solution to our customers.”
Vitrue will give Oracle both a strong social marketing platform and access to the company's customer base, which includes a number of major clients. Oracle is expected to integrate Vitrue with its existing CRM, social commerce and marketing automation products.