Parta completes acquisition of social media tech company
As technology continues to evolve, more companies are taking great pains to ensure that they remain ahead of the competition and have the latest systems at their disposal. Parta Dialogue, a social media optimization company, announced that it has acquired Sense Fab, which is operating as MyTwatch. The latter company is a private e-intelligence and social marketing technology firm.
According to a company press release, Parta originally announced the acquisition of the Paris-based company on January 31 of this year, but it was just now finalized. The initial purchase price is listed as 1,037,166 common shares for 25 cents per share with a cash consideration of EUR 19,500.
MyTwatch has developed a technique that allows a social media crawler to gather large amounts of data across varied digital platforms so companies can sift through the information easier and apply the findings to their business.
Parta CEO Paul Allard said in the press release that the technology acquisition is important for his company to create stronger options for clients to have a complete social marketing cycle.
"MyTwatch's award winning proprietary listening technology and semantic analysis – currently utilized by numerous clients, round out our strengths in creating, distributing and measuring social media marketing programs," he said. "With the capability to execute in six languages, their platform will become a key aspect in our effort to attract customers globally."
This is another ideal example of M&A activity being able to benefit both companies involved. Parta is able to strengthen the opportunities it can offer its customers, while MyTwatch can ensure that its valuable data and analysis capabilities will continue to be put to good use. Each business can also expand its clientele while still enforcing the current product and services.