As a result of the deal, Cymfony president Richard Pasewark will assume the CEO role of the combined company, relocating from Boston to Seattle where the company will be based. Meanwhile, Kelly Pennock — who had served as CEO of Visible Technologies — has stepped down.
Terms of the deal were not disclosed, but Pasewark tells GeekWire that the new entity will have more than 200 customers.
Cymfony employs about 60 people, while Visible employs 85. The combined company will go forward with about 125 staffers, meaning some will lose their jobs as certain duplicate roles are eliminated.
“Cymfony brings significant sales and services expertise, where Visible has a very, very strong engineering and scalable architecture” said Pasewark. “Putting that together is going to have a very positive effect on the client base.”
Both companies also have a common shareholder in WPP, the giant advertising services firm. WPP is a long-time investor and Visible, recently contributed to the company’s $1.5 million round that closed last fall. In total, Visible has raised $50.5 million from WPP, Ignition Capital and Investor Growth Capital.
Cymfony most recently operated as a unit of Kantar Media, a division of WPP.
There’s been a ton of activity in the social media monitoring space in recent months, including financing deals for Seattle’s Banyan Branch and Prosodic. In addition, Seattle’s Spring Creek Group was acquired by Mediabrands and Seattle’s BuzzLabs was acquired by City Grid Media. In one of the bigger deals in the space, Salesforce.com bought Radian6 for $326 million last year.
Asked about the competitive landscape, Pasewark said that the acquisition positions Visible to make a real impact in the industry by focusing on social media monitoring tools that integrate more deeply with other enterprise tools.
“As the market is maturing, most of the clients are looking to move beyond engagement, or basic Twitter and Facebook measurement, although they are very important, they are looked at as a starting place,” said Pasewark.
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