IBM is buying Silverpop, an Atlanta-based marketing automation company, for a reported $250 to $300 million.
IBM is acquiring Silverpop, a privately held Atlanta-based company specializing in marketing automation. The move is aimed at enhancing IBM’s portfolio of services and targeting potential customers.
Financial terms of the deal have not been disclosed but reports suggest that it is a $250 to $300 million acquisition.
According to a statement from IBM, the combination of its own enterprise marketing portfolio with Silverpop’s real-time personalization technology will create a complete and advanced customer engagement solution for businesses of all sizes and scenarios.
"The acquisition of Silverpop turbocharges IBM’s ability to put the customer at the center of any organization," says Craig Hayman, cloud services general manager at IBM.
"Now, nearly any marketing, commerce, or customer service professional from any business will have the ability to deliver the kinds of personalized customer experiences that make a measurable impact on the brand experience and the bottom line," he adds.
IBM has been aggressively building out its marketing suite this year. Just last month the company invested $100 million to expand its data-driven capabilities and consulting strategy. The Silverpop acquisition, if approved by regulators, is expected to be complete by mid-year.
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