Marchex acquisition of Sonar Technologies : Seattle-based call analytics provider Marchex has acquired Sonar Technologies, an enterprise text analytics company in a cash-cum-stock deal worth up to $14 million.
Sonar Technologies offers an enterprise-level text and messaging platform for firms seeking to boost revenue by enhancing consumer experience and engagement.
The technology of the enterprise text analytics company is said to help enterprises in delivering timely and highly customized experiences through text.
Sonar Technologies is claimed to process millions of messages for major organizations in consumer lending, real estate, automotive, travel, and other industries.
Marchex says that the acquisition of the enterprise text analytics company will further grow the footprint of its conversational data set, thereby expanding its ability to deploy artificial intelligence to surface deep consumer intent signals in texts, messaging and voice communication channels.
Commenting on Marchex acquisition of Sonar Technologies, Russell Horowitz – Marchex Executive Chairman, said: “As part of our mission to create a leading conversational analytics and solutions company, today we are extending our analytics and customer engagement technologies with expanded text and messaging capabilities, one of the fastest-growing consumer communications channels.
“We are seeing a significant increase in demand from customers asking us to apply our conversation analytics and solutions to text and messaging. With Sonar, we are adding substantial new capabilities and an innovative team that is enabling businesses across multiple verticals to employ robust text and messaging solutions to grow revenue.
“We think the combination of these capabilities will enable Marchex to be one of the first companies to offer deep consumer intent AI signals with actionable insights across voice and text.”
The enlarged conversational analytics and solutions company post-acquisition will give businesses a unified view of the customer in voice and text communication channels, including text, messaging and calls on an inbound and outbound basis, while facilitating actionable insights and solutions to help businesses grow sales and enhance consumer engagement.
Matthew Berman – Sonar Technologies CEO, commenting on Marchex acquisition of Sonar Technologies, said: “We have years of experience building a highly configurable text and messaging platform that drives lift in customer engagement and sales through delivering highly personalized experiences for leading brands. Our focus on our customers aligns with Marchex’s customer-centric culture.
“Together, we will be able to provide a more complete view of business and consumer communications across voice and text, all while leveraging AI and automation to help brands deliver the most personalized consumer sales experiences at enterprise scale.”