IBM's series of acquisitions, the company today announced an agreement to purchase Coremetrics for an undisclosed sum. The acquisitions expands IBM's ability to deliver real-time intelligence to enterprises. Coremetrics is a SaaS provider that gleans data from not only a company's own website, but also social media, mobile media and other sources. Coremetrics's existing customers include brands such as Bank of America and Holiday Inn.In what is the latest in
IBM cites Coremetrics's insights into social network and social media behavior as a driving factor behind this acquisition. According to a survey of CEOs conducted by IBM, over 80% of them are hoping to better understand their customer's needs and "get closer" to their customers. Social media campaigns have been a key part of many companies attempts to do just that.
To this end, Coremetrics functions include "real-time personalized recommendations, email targeting, display ad targeting across leading ad networks, and search engine bid management."
The acquisition rounds out IBM's WebSphere portfolio of information management and business analytics offerings.
The deal is expected to close in Q3 2010. Coremetrics's approximately 230 employees will be integrated into IBM.