Montreal’s Engagement Labs has acquired the Toronto-based agency and social media analytics firm Entrinsic.
Announced Tuesday, the sale of Entrinsic will see the firm integrated into Engagement Labs’ Toronto office, with founder and CEO Eli Singer taking on the position of chief strategy officer. At Engagement Labs Singer will be tasked with building the company’s relationships with brands and agencies as well as overseeing some product development.
As part of the deal Singer will also become a “substantial” shareholder of Engagement Labs, though further financial terms of the acquisition were not discussed. In 2013, Entrinsic had a revenue of $2.4 million.
In a release Singer said he is thrilled with his new position. “Our work has always been deeply rooted in analytics based insights, an approach that has proven repeatedly successful with clients,” he said. “This is a logical evolution for us as Engagement Labs has built next generation social media measurement and monitoring technology that is a game-changer for brands and agencies looking to develop great results by focusing on digital programs.”
Like Entrinsic, Engagement Labs is a provider of analytics for brands and agencies and lists Grip, P&G, CIBC and JWT as clients. Last month it also introduced a brand performance score called eValue that ranks the social media performance of brands.
