Marchex, Inc. (NASDAQ:MCHX), a Seattle, WA-based provider of call analytics that drive, measure, and convert callers into customers, acquired Sonar Technologies, an enterprise text and messaging sales engagement and analytics company, for $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.
The acquisition aims to extend Marchex’ ability to use artificial intelligence to surface deep consumer intent signals across texts, messaging and voice communication channels.
Led by Matthew Berman, CEO, Sonar Technologies 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. Sonar processes millions of messages for leading organizations in real estate, consumer lending, travel, automotive and other industries.
Led by Russell Horowitz, Executive Chairman, Marchex provides solutions for companies to drive more calls, understand what happens on those calls, and convert more of those callers into customers. Its actionable intelligence strengthens the connection between companies and their customers, bridging the physical and digital world, to allow brands to maximize their marketing investments and operating efficiencies to acquire the best customers.