Cheil Worldwide has announced the acquisition of China-based ColourData, a social media data analytics firm. The agency network said the purchase strengthens its data-driven marketing capabilities.
Founded in 2014, Shanghai-based ColourData uses proprietary technology to collect postings and comments from social media, news and e-commerce websites then analyzes buzz by geography, gender and age group. ColourData says it offers AI-powered natural language processing, real-time visualizations, and on-demand report generation.
ColourData's KOL Evaluation Platform helps clients review internet celebrities. ColourData has worked with GSK, Samsung, Hilton, AB Inbev, BMW and Bayer, and has worked with Cheil on several social media-related digital marketing projects, according to a release.
The acquisition empowers Cheil to deliver more robust marketing analytics to its existing clients, while also enhancing its business development potential in China across a range of industries, the company said. The move will also contribute to the continuous growth of Cheil Worldwide’s digital business, which now accounts for over 40% of revenue.
ColourData said its annual average sales growth rate (CAGR) over the past three years has been approximately 40%.
In addition to this acquisition, Cheil Worldwide said it continues to seek merger and acquisition deals with digital agencies around the world to identify new growth drivers.
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