American corporation Oracle, that specializes 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 $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 behavior, patterns and content available online.
Last month, Oracle announced its plans to purchase Vitrue, a cloud-based social marketing platform. The price has not been officially confirmed, but reports have suggested that the deal has been sealed for $300 million.
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