Buzzilla sells online brand monitoring license for $5m
Ifat and Buzzilla will set up a special purpose company, Buzzilla Israel, which will hold the license to Buzzilla’s technology, and will merge with Ifat Social
Globes | 12 July, 2012 |
Sources inform ''Globes'' that branding monitoring company Buzzilla Ltd. has sold an eight-year distribution license for its system to Ifat Advertising Control Ltd. for $5 million. The Antitrust Authority has to approve the deal.
Buzzilla brand monitoring system scans the Internet to find in real time announcements and responses on content sites and social networks, such as forums, blogs, Facebook, Twitter, and companies' talkbacks. It analyzes the data to discover consumer trends which can help advertisers assess the status of their brands, improve service networks, and measure the effectiveness of marketing campaigns.
Ifat Advertising Control also offers customers content monitoring services through its Ifat Social subsidiary, and has been competing with Buzzilla in this field.
Ifat and Buzzilla will set up a special purpose company, Buzzilla Israel, which will hold the license to Buzzilla's technology, and will merge with Ifat Social. Buzzilla will transfer 40 employees to this company, and will provide technology development and research services.
Buzzilla co-CEO Yoav Pridor confirmed the report, saying, "We are proud to partner with Ifat. Under the franchise agreement, we will assist and provide services to Buzzilla Israel in a prominent and exciting way." He said that the idea behind the deal was for management to focus on technology development and the integration of research methods for the next generation of Buzzilla products.
The Ifat deal is Buzzilla's second sale of a license, following a deal in Mexico a few months ago. "Our strategic goal is have licenses in 25 countries within four years," said Pridor.
Ifat said in response, "This week, Ifat completed a strategic deal to acquire the activity of Buzzilla. This is synergetic activity that will supplement solutions to meet our customers' needs."
Published by Globes [online], Israel business news - www.globes-online.com - on July 12, 2012.