NEWS15 July 2009

Alterian snaps up social media tracker Techrigy

M&A Technology UK

UK— Alterian has acquired New York-based social media monitoring and analytics software firm Techrigy in an all-share deal that could be worth up to $4.1m.

David Eldridge (pictured), Alterian’s CEO, said: “Social media and Web 2.0 applications are developing and changing so rapidly that only those companies that can combine an understanding of social media with a solid history in marketing analytics will succeed in this fast-emerging space.”

Alterian will offer its customers a free evaluation version of Techrigy’s SM2 social media tracking and analysis software, with an option to subscribe to the full version. The firm plans to integrate the technology with its Integrated Marketing Platform, a tool designed to make it easier and more cost-effective for marketers to orchestrate multi-channel engagement with consumers.

Techrigy founder and president Aaron Newman said: “We don’t see this as the end of the Techrigy story but the start of something bigger. Through the backing of the Alterian brand and integration with the Alterian Integrated Marketing Platform, SM2 now becomes an integral part of the marketer’s arsenal and social media monitoring and analytics takes a giant leap forward in becoming a key driver of marketing activity.”