Oracle Buys Collective Intellect to Boost Cloud Services

By Jennifer Booton Features FOXBusiness

Oracle (ORCL) inked a deal to buy cloud-based social media managing platform Collective Intellect on Tuesday as it prepares to launch a cloud service suite on Wednesday that will directly compete with rivals like (CRM).

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Terms of the deal were not disclosed.

The announcement comes a day after the Bay Area’s Salesforce, an enterprise cloud computer firm, agreed to buy social media marketer Buddy Media for $689 million.

Collective Intellect’s products provide companies with social intelligence in the cloud to monitor consumers’ conversations on social media platforms such as Facebook (FB) and Twitter so that they can tweak marketing campaigns.

The move follows Oracle’s May purchase of social marketing platform Virtue. While it did not give a price for that deal either, industry web site TechCrunch pegged the deal around $300 million.

Silicon Valley's Oracle said that the two pending acquisitions are expected to “create the most advanced and comprehensive social relationship platform.”

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"Creating meaningful content based on a clear understanding of consumers' conversations is the way brands will create stronger customer relationships," Collective Intellect CEO Don Springer said in a statement.

The company’s “semantic analytics platform” will provide “cutting-edge technology” to Oracle as brands continue to move from transactional relationships with customers to more social ones, he said.