William Malcolm

Socialbakers Acquired By Astute

U.S. software company Astute acquired the Czech based social media marketing platform Socialbakers. They did not announce the acquisition price, but experts say it is one of the largest Czech technological scene deals.

The companies said they would build a shared environment using artificial intelligence principles to manage marketing on social networks and customer satisfaction for global brands.

We will not comment on the specific size of the deal, but it is one of the largest transactions of its kind in the Czech startup market in history,” said Nikola Pantovič, Socialbakers’ executive vice president for trade and international expansion.

Socialbakers has grown from a Czech startup to a global IT company with more than 500 employees and billions in sales. Its artificial media (AI) social media marketing platform is used by more than 2,500 multinational companies and midsize brands worldwide. The service allows them to reach and engage their customers across major social networks using a single platform.

The platform has in its database more than ten million social profiles across all major social networks, including Facebook, Instagram, Twitter, YouTube, LinkedIn, Pinterest, and VK.com.

“Customer demand for an exceptional shopping experience leads brands to look for a single platform to help them drive the customer’s journey across channels,” added Yuval Ben-Itzhak, CEO of Socialbakers, who believes the merger will enable clients to provide an integrated platform for customer experience.

The market for customer experience management tools is estimated at $20 billion and is growing at approximately 20 percent per year.

Astute unifies all data within the purchasing process, offers a desktop customer relationship management system using AI principles, social network management, customer feedback monitoring, and analysis. Astute enhances their interaction and records essential data to improve customer satisfaction.