Bazaarvoice to acquire social measurement platform PowerReviews
US— Social analytics software firm Bazaarvoice has agreed to acquire PowerReviews, a social platform that combines customer reviews and ratings, loyalty and social measurement. The cash-and-share deal is worth $151.9m.
The PowerReviews platform allows clients, including retailers such as Staples and Toys ‘R’ Us, to add customer review sections to their websites, ask questions of recent shoppers and measure what impact social activity has on sales.
Brett Hurt, Bazaarvoice’s CEO and founder, said: “We are entering a new era where business growth is a direct result of your ability to connect with customers in the ways that are most meaningful to them. The insights derived from these conversations help leaders accelerate business growth, speed up the innovation cycle and drive brand equity through a consistent and authentic brand experience.”
The deal is expected to close at the end of July.