Everything in news organizations is getting more expensive, so the owners say. The result, online media intelligence company Meltwater (news, site) says, is that it is expanding its business into social media monitoring through the acquisition of social search engine developer IceRocket (news, site).
Like many such deals, the price Meltwater is paying hasn’t been released, but if MeltWater is a US$ 100 million company, which it says it is, and aims to create US$ 100 million in social media business within three years, then you can have some kind of idea of the size of company we are dealing with here.
But that’s all the business end of things. On the product end of things, the move into social media search makes a lot of sense for Meltwater.
While the IceRocket search engine will operate on a business-as-usual basis once the deal is closed, Meltwater says it will integrate some of the technology into its own Meltwater Buzz social media monitoring product.
Meltwater Buzz is a SaaS social media monitoring solution that provides users with plenty of insight into how their brand is working across the social web, to which a new module that took it a little further was added in June with Social CRM capabilities.
Until now, as a group of products, with Meltwater there was little you couldn’t find out about how your brand was faring across news outlets. With the addition of IceRocket, you can do the same with social media searches including Facebook, Twitter, blogs and wikis.
IceRocket's integration with Meltwater Buzz will provide access to more sophisticated capabilities, such as measuring and analyzing social engagement and influence,” says Blake Rhodes, IceRocket founder.
In fact, IceRocket can crawl over 200 million blogs and tweets, as well as video and news, with each result catalogued and ranked, while its blog search engine can identify themes and trends specifically across blogs.
Meltwater acquired social CRM company JitterJam in March and in June released the first solution that integrated the JitterJam capabilities into the Meltwater Buzz social media monitoring solution.
It also bought BuzzGain last year and appears to have a strategy that consists of just buying other companies. It hasn’t gone into any detail on this future strategy acquisition-wise, but it probably won’t be too long before we find out more in this regard.