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Engagement Labs to buy Entrinsic
By Adnews Staff
Toronto-based social media measurement company Engagement Labs has entered into an agreement to aquire Entrinsic, a communications agency specializing in social media, also based in Toronto. The overall purchase price is $1.46 million in cash and shares. The agency will be merged into the Engagement Labs office. Entrinsic CEO Eli Singer will join Engagement Labs as chief strategy officer. The company also plans to bring all of Entrinsic's staff into the new operation. According to the company Entrinsic had revenues of approximately $2.4 million in 2013.
"As we are solely focused on providing marketers with intelligent actionable customer engagement data, adding Entrinsic social analytics and activation expertise to our offering was the next evolutionary step for us in creating a best-in-class social technology company," said Paul Allard, CEO of Engagement Labs. "With our Intelligent Data on Demand platform at the core of our business strategy, we are now able to offer our clients the next generation of social analytics systems with the insights, intelligence and optimization they need."