Norwegian software company Meltwater Group has has acquired social media monitoring company BuzzGain Inc. PC reports that the deal is worth $4 million including earn outs. BuzzGain is a California based social media monitoring company with a development office in Bangalore. Its customers and partners for its social media monitoring solution includes Microsoft and Infosys among others.
Founder and CEO, Mukund Mohan will join Meltwater’s existing social media monitoring arm Meltwater Buzz, along with 25 employees from BuzzGain’s engineering team. They’re developing a platform that will have the capability to cover more than 10 million discussions per day in 10 different languages.
BuzzGain’s acquisition is the first for Meltwater after the corporate venture arm was set up a year ago and the company seems to be looking for more. Meltwater also announced that it will reach $100 million in bookings for the year ending March 2010.
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