Business
Marchex Acquires Sonar Technologies, Inc.
Acquisition Extends Marchex’s Capabilities as a Leading Conversational Analytics and Solutions Company by Expanding Text and Messaging SEATTLE--(BUSINESS
About this update from Marchex, Inc.
[{"type":"text","content":"\nAcquisition Extends Marchex’s Capabilities as a Leading Conversational Analytics and Solutions Company by Expanding Text and Messaging\n\n SEATTLE--(BUSINESS WIRE)--\nMarchex, Inc. (NASDAQ:MCHX), a leading provider of call analytics that drive, measure, and convert callers into customers, today announced the acquisition of Sonar Technologies, an enterprise text and messaging sales engagement and analytics company (www.send-sonar.com), for consideration of $12.5 million in a combination of cash and stock and up to an additional $1.5 million in stock subject to certain sales performance targets.\n\n\nSonar provides an enterprise-level text and messaging platform for companies looking to increase revenue by improving consumer experience and engagement. The company’s innovative technology enables enterprises to deliver timely and highly personalized experiences via text, one of the most heavily utilized mobile consumer communication channels. The company processes millions of messages for leading organizations in real estate, consumer lending, travel, automotive and other industries. In addition, Sonar further expands the footprint of Marchex’s leading conversational data set, expanding Marchex’s ability to use artificial intelligence to surface deep consumer intent signals across texts, messaging and voice communication channels.\n\n\n“As part of our mission to create a leading conversational analytics and solutions company, today we are extending our analytics and customer engagement technologies with expanded text and messaging capabilities, one of the fastest-growing consumer communications channels,” said Russell Horowitz, Marchex Executive Chairman. “We are seeing a significant increase in demand from customers asking us to apply our conversation analytics and solutions to text and messaging. With Sonar, we are adding substantial new capabilities and an innovative team that is enabling businesses across multiple verticals to employ robust text and messaging solutions to grow revenue. We think the combination of these capabilities will enable Marchex to be one of the first companies to offer deep consumer intent AI signals with actionable insights across voice and text.”\n\n\n“We are excited to unite with Marchex to build a leading conversational analytics and solutions company,” said Matthew Berman, Sonar Technologies CEO. “...