Global computer technology giant Oracle Corporation has agreed to acquire Collective Intellect, a leading provider of social intelligence solutions, as part of its strategy to augment cloud-based computing, and boost the supply of social analytics tools to its customers.
Collective Intellect's solutions enable organisations to monitor, understand and respond to consumer's conversations on social media platforms such as Facebook and Twitter, Oracle said in a statement.
Financial terms of the transaction have not been disclosed.
The deal comes less than a fortnight after Oracle announced its acquisition of cloud-based marketing firm Virtue, a provider of software for publishing and monitoring social-media content, for approximately $300 million. (See: Oracle to buy cloud-based social marketing platform Vitrue)
In another major cloud-based business acquisition last month, rival SAP AG agreed to buy US commerce networking company Ariba for $4.3 billion. (See: SAP to acquire Ariba Inc for $4.3 bn)
Boulder, Colorado-based Collective Intellect is the leader in enabling social customer relationship management (CRM) through its web-based, automated, real-time text mining and analytics software.