Lithium Technologies Acquires Scout Lab

Lithium technologies has acquired Scout Lab, a startup that lets brand owners track what’s being said about them on social sites. Lithium is a provider of CRM solutions that power the customer network. Lithium Technologies is focused on combining customer communities with the broader social web and traditional CRM business processes. Lithium bought the startup in a stock and cash transaction for an estimated $20 million.

Scout Labs was a product created by Minor Ventures in 2007. Scout recently updated their UI and improved on their product and caught the eye of Social CRM provider Lithium. Scout Lab is a great resource for auto-determining sentiment and providing brand managers with a way to monitor what’s being said about them in real-time.

Lithium technology is the next generation of customer engagement. Lithium’s customer network gives businesses the ability to empower their customers to innovate, support, sell and promote for them.

The news about the acquisition is hot off the press – thank you TechCrunch, therefore details about how Lithium plans to leverage Scout Lab’s technology is TBA. One thing we can expect is that businesses will soon be able to harness the complete power of their customer network. With Lithium and Scout, customers will be given a voice and can be the driving force for innovation and product development. The acquisition will foster a new breed of Social CRM where customers can interact with businesses on a more meaningful level.

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