Social media management platform Hootsuite is to acquire social listening platform Talkwalker.
The deal will make Hootsuite a "social media performance engine", it said, as it will combine Hootsuite’s publishing and analytics platform with Talkwalker’s consumer intelligence.
The latter gathers real-time data and customer insights from different sources.
The deal is set to close between April and June 2024, and Lokdeep Singh, chief executive of Talkwalker, will play a "vital role" in the integration.
Talkwalker has approximately 400 employees and a spokesperson for the company said: "The goal is to retain and empower talent on both sides."
The spokesperson added: "As the two companies integrate after closing, we will be working to align every person in the business into the right role."
The acquisition is also designed to give customers a head-start on cultural trends through predictive analytics, more qualified leads for businesses from social media, as well as access to BlueSilkTM GPT, an AI tool for social marketers.
