Constant Contact Adds Social CRM Capabilities With Acquisition of Bantam Live
Constant Contact, Inc. announced the acquisition of Bantam Live, a contact management and social CRM provider owned and operated by privately held Bantam Networks, LLC. Under the terms of the deal, which closed on February 15, 2011, Constant Contact acquired substantially all of the assets and assumed certain liabilities of Bantam Networks for a cash purchase price of $15 million, subject to certain post-closing adjustments.
New York-based Bantam Live will provide Constant Contact a social CRM platform built on a Ruby on Rails® platform. Bantam Live's social CRM technology is focused on offering a unified repository of data across all channels, including clicks, email opens, survey responses, event participation and social media interactions. It will play a crucial role in how data is captured, reported and analyzed for Constant Contact's more than 400,000 small business customers, helping them better track, measure and increase customer engagement, according to a company release.
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