Global paid social solution TBG Digital has become the subject of a takeover by social software platform Sprinklr.
Financial details for the deal remain undisclosed, but the new combined entity is set to offer a converged media solution with extended reach and content planning for advertisers across paid, owned and earned social media.
TBG has worked with a number of companies. Some have acquisition-related inquiries, but it was Sprinklr’s proposal that really piqued the interest of founder and CEO Simon Mansell.
“While many companies approached us about converged media, only Sprinklr had the proven ability to convert our domain knowledge into actionable software that can be deployed to thousands of brands globally.”
Sprinklr wants marketers at enterprises, brands and agencies to focus on optimising and managing their social reach across all touchpoints rather than playing the role of a systems integrator or spreadsheet wizard.
Once the acquisition is given the green light after meeting closing conditions, Sprinklr will serve 650 enterprise brands, process more than $100 million in annual media spend and employ close to 500 people across the US, UK, France, Germany and Asia.
Some of Sprinklr’s first customers to trial the new converged media solution have witnessed a 25% upturn in performance, which has been CEO and founder of Sprinklr Ragy Thomas’s aim since the beginning.
"Simple converged media management is the dream that brands have been asking for," Thomas revealed.
"This is another milestone along the path we've intentionally taken since the beginning, to bring large companies closer to their customers in a nimble, scalable, and passionate way."