The Marketwire news release company has acquired Sysomos, a Toronto-based social media monitoring and analysis firm.
Financial details of the transaction, announced Tuesday, were not released.
Marketwire said its acquisition of Sysomos helps the company provide its customers access to and analysis of billions of social media conversations, including blogs, social networks, micro-blogging services, forums, video sites and media sources.
Sysomos, Greek for “everything together,” emerged from an advanced research project led by computer science professor Nick Koudas at the University of Toronto in 2005. The company, now headed by Koudas, was incorporated in 2007.
The company’s key software products are MAP (Media Analysis Platform) and Heartbeat, which analyze and provide information on social media trends that can be used by companies, advertising agencies and investor relations.
“This is a critical step in our integrated communication solution strategy,” Marketwire president and CEO Michael Nowlan, said in a release.
“To date we have been a leader in providing our clients with ways to reach out to their key audiences by innovating the publishing and distribution of news releases. The rapid changes in communications as a result of social media now make it imperative to immediately understand the impact of outbound messaging: What happens to it, what’s the reaction to it, and how is it used to evaluate and strategize future messages? Sysomos furthers Marketwire’s technological capabilities to make this possible for our clients.”
Marketwire has more than 11,000 clients and operates 20 offices around the world. The company is majority owned by the private equity arm of the Ontario Municipal Employees Retirement System, the public sector pension plan for Ontario municipal workers.
