Marchex, the Seattle-based call and conversation analytics company, has acquired Sonar Technologies, a San Francisco-based company known for its enterprise text messaging and sales engagement analytics technology, for up to $14 million.
Under the deal, Marchex will pay $12.5 million in cash and stock, plus up to $1.5 million in additional stock subject to post-acquisition performance targets. Sonar has about 10 employees, who will join Marchex with the deal.
Russell Horowitz, Marchex executive chairman, said in a statement that the company is “seeing a significant increase in demand from customers asking us to apply our conversation analytics and solutions to text and messaging.”
“With Sonar, we are adding substantial new capabilities and an innovative team that is enabling businesses across multiple verticals to employ robust text and messaging solutions to grow revenue,” Horowitz said. “We think the combination of these capabilities will enable Marchex to be one of the first companies to offer deep consumer intent AI signals with actionable insights across voice and text.”
Marchex reported $24.8 million in revenue in the third quarter, up from $20 million a year earlier, with a quarterly loss of $1.2 million.