Say goodbye to expensive and disjointed tech stacks that you are using to engage with your customers across all your owned brand channels.
Vista Equity Partners has acquired Spredfast and plans to combine it with Lithium Technologies.
Although the new company has not been named yet, more than 2,000 Lithium and Spredfast users are already anticipating benefits.
Once the merger is complete, they will have the only platform in the world that can:
- Manage all of a company’s owned brand channels
- Engage customers in their favorite channels
- Track each digital customer interaction
- Get deep insights and actionable analytics across the entire customer journey
Excitement is palpable.
“We will have the deepest pool of talented experts, the strongest social software engineering team around, and the broadest set of solutions to help you engage with your customers and grow your business,” says Peter Hess, CEO, Lithium Technologies.
Lithium Technologies is the brains behind Lithium, a platform to host and manage brand communities. Several Fortune 1000 companies use the platform which serves more than 100 million visitors each month. Merger with Spredfast will complement Lithium’s social media management services.
Founded in 2008, Spredfast is a social media management platform used by the likes of Hyundai. The company has raised $116 million to date and employs 388 people in Austin. Although its main office will move to San Francisco, where Lithium Technologies is headquartered, the post-merger entity will retain the Austin office.
Spredfast Chairman and CEO Ross Favaron will “work closely with the management team” but his role after transition is unclear. Peter Hess will be the CEO of the new company.
Vista Equity Partners, which now owns Lithium Technologies and Spredfast, is silent about the financial details of the merger. Vista Equity Partners is a $31 billion private equity firm and a prolific tech investor. It operates from Austin and already has more than 300 deals to its name.
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