Yexist Acquisition Plan Hearsay SystemThe company said the acquisition will create a single digital marketing platform to enhance customer experience and help brands speed up the process of converting prospects into loyal customers.
The acquisition adds Hearsay Systems' compliant engagement solutions, including social media, website and text. and In an announcement on Monday, the two companies said they are adding voice capabilities to Yext's digital presence management platform. press release.
The transaction is expected to close by January 31, 2025, subject to customary closing conditions, according to the announcement.
“Customers want to consolidate their digital marketing channels onto one platform to increase efficiency and improve performance. and Reduce costs, Michael Walrath“Yext already offers access to more channels than any other provider, and with the addition of Hearsay Systems, we're excited to bring you the power of analytics,” said David Gregg, CEO and chairman of the board of directors at Yext, in a release. Offers It gives brands more ways to connect one-to-one with their customers.”
Yext's platform includes search engine optimization (SEO), website Social Media and According to the release, reputation management enables brands to deliver consistent experiences and connect with customers across the digital world.
Hearsay Systems' solutions are purpose-built and compliance-driven, helping financial institutions extend their reach, optimize customer engagement and grow their business. and According to the release, the move will optimize customer service.
Combining these solutions as planned will enable brands to access more channels on one platform and leverage integrated analytics to improve performance, according to the release.
“We are excited to offer our customers an expanded solution set and introduce the Hearsay solution to customers in other industries.” Michael Bowes“We are only just beginning to see the potential of AI,” Hearsay Systems' CEO said in a release. [artificial intelligence] In the field of digital marketing, by combining our resources and technology with Yext, we This will enable us to provide even more value to brands who want to harness the power of AI.”
The news comes three days after it was reported that Yext was considering a sale and had hired an investment bank after courting investors. take over interest.
Reuters reports that the company is only in the process of considering a sale and may not proceed with any deal. report Friday (June 7th).
Reached by PYMNTS on Friday, Yext declined to comment on the report.
