American corporation Oracle, which specialises in computing hardware and database management systems for enterprises, will be buying Collective Intellect, according to reports.
Collective Intellect is a company that assists businesses in gaining information and consumer analytics from social networks — in particular, Facebook and Twitter pages. Private and public data can be monitored through its software in order to monitor consumer intentions, preferences and patterns.
The announcement has been made a day after Oracle's rival, Salesforce, agreed to buy Buddy Media — a company that runs social-media branding and campaigns for social networks — for approximately US$689 million in cash and shares.
According to Reuters, the specific terms of the deal have not been disclosed.
Collective Intellect develops and uses internet-based text mining and analytics to help businesses understand, collate and process information on consumer behaviour, patterns and content available online.
Last month, Oracle announced its plans to purchase Virtue, a cloud-based social-marketing platform. The price has not been officially confirmed, but reports have suggested that the deal has been sealed for US$300 million.
Via ZDNet US