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Constant Contact Acquires Bantam Live to Strengthen its Social CRM Capabilities
By Sujata Garud, TMCnet Contributor
Constant Contact, Inc., a marketing advisor to more than 400,000 small organizations, acquired Bantam Live, a contact management and social CRM provider owned and operated by privately held Bantam Networks.
In a press release, Gail Goodman, CEO of Constant Contact (News - Alert), said, “Building highly-engaged customer relationships is the number one pain point for small organizations. To do this, they need a unified view of their contacts across all channels, from email addresses to social media connections, to event registrations. With the Bantam Live acquisition and our internal development initiatives, we are building a platform that delivers a targeted approach to building stronger customer relationships and cultivating new ones - the number one business driver for small organizations. Armed with better, targeted insight, small organizations can more easily turn prospects into customers or members, and fans into advocates.”
As per the deal, which closed on February 15, Constant Contact acquired substantially all of the assets and assumed certain liabilities of Bantam Networks for a cash purchase price of $15 million, subject to certain post-closing adjustments. Bantam Live provides Constant Contact a social CRM platform built on a Ruby on Rails platform, plus an experienced and talented team focused on developing products and tools for small business. Bantam Live's social CRM technology will help to create a unified repository of data across all channels, including clicks, email opens, survey responses, event participation and social media interactions. It will play a crucial role in how data is captured, reported and analyzed for Constant Contact's more than 400,000 small business customers, helping them better track, measure and increase customer engagement.
Constant Contact was in news recently when the company announced a partnership deal with WeReward to help merchants and product manufacturers increase customer loyalty and lifetime value through stronger relationships. This integration allows retailers and product manufacturers to attract new customers through WeReward's mobile application and grow these relationships beyond a check-in, through Constant Contact's email marketing tool.
Sujata Garud is a TMCnet freelancer with three years of writing/editing experience and two years of market research experience. As an editor she has covered the IT, electronics, banking, pharma, construction, mining and healthcare industries. To see more of her articles, please visit her columnist page.
Edited by Jennifer Russell