Social media management platform Hootsuite on Tuesday said it plans to acquire Facebook ads manager AdEspresso. Financial terms of the deal were not disclosed.
The Vancouver, British Columbia-based company is also rolling out Hootsuite ads, an enterprise-grade ad tool with built in analytics, optimization and management capabilities.
Spun out of an Italian ad agency in 2013, AdEspresso is known for its ad optimization technology, which helps users the best combination of text and images for their social media ads. With the combination of the acquisition and new product launch, Hootsuite is aiming to expand its services that help users create and manage Facebook and Instagram ad campaigns.
"Social advertising has become a vital aspect of marketing; companies are looking for ways to reach an active, engaged audience while getting more mileage from content and advertising spend," said Hootsuite CEO Ryan Holmes. "With AdEspresso, we're bringing our users a simple, powerful, battle-tested solution that delivers measurable ROI."
Hootsuite's enterprise push has been a years-long effort. In 2015 the company tightened its ties to Microsoft with a series of platform integrations and native integration with Microsoft Dynamics CRM, Microsoft Office 365, and SharePoint, along with more capabilities tied into Yammer.
Hootsuite has also partnered with IBM in a commitment to move its App Directory, a marketplace of social applications, to IBM's SoftLayer cloud infrastructure. Last July Hootsuite added a new batch of content sources to its publishing platform, including Box, Dropbox, Microsoft OneDrive, and Google Drive.
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