Bazaarvoice has purchased rival PowerReviews for $31 million cash and up to 8 million shares in common stock, the companies announced late today. In total, the value of the transaction is nearly $152 million, according to their prepared release.
Six-year-old PowerReviews provides retailers like Gap, REI, and Staples with social tools for e-commerce sites, such as ratings and reviews, Q&A, loyalty programs, discovery, and measurement capabilities. The San Francisco-based company has a client base of 1,100 clients, said the announcement.
With Bazaarvoice's 700 clients, it now totals nearly 1,800 business users of its reviews and social commerce tools. The PowerReviews brand will be shuttered and folded into Bazaarvoice, a rep for the latter told ClickZ.
Christopher Heine was a senior writer for ClickZ through June 2012. He covered social media, sports/entertainment marketing, retail, and more. Heine's work has also appeared via Mashable, Brandweek, DM News, MarketingSherpa, and other tech- and ad-centric publications. USA Today, Bloomberg Radio, and The Los Angeles Times have cited him as an expert journalist.
June 5, 2013
1:00pm ET / 10:00am PT