San Francisco-based Lithium primarily focuses on social communities and digital customer care. Spredfast, headquartered in Austin, is known for its tools to manage social media campaigns and responses.
Yesterday, the two companies announced they are merging into what they describe as “the industry’s most comprehensive customer engagement platform.” The move is being undertaken as the acquisition of Spredfast by Vista Equity Partners, which owns Lithium and will combine the two companies. Deal terms were not made public.
The name for the new firm has not yet been chosen, Lithium CEO Rodd Hess told me, and could be Lithium, Spredfast or something new. He added that the unnamed combo and the combined platform will offer “the most robust care and [social] marketing functionality.”
[Read the full article on MarTech Today.]
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