Financial details of the transaction are not available, according to Canadian Business, but it's official that the Marketwire news release company has acquired Sysomos, a Toronto-based social media monitoring and analysis firm.
Its acquisition of Sysomos helps the company provide its customers access to and analysis of billions of social media conversations.
Sysomos emerged in 2005 from a research project led by computer science professor Nick Koudas at the University of Toronto. The company, whose name is Greek for "everything together", was incorporated in 2007.
The company's valued software products are MAP (Media Analysis Platform) and Heartbeat.
"This is a critical step in our integrated communication solution strategy," Marketwire CEO Michael Nowlan said.
"To date we have been a leader in providing our clients with ways to reach out to their key audiences by innovating the publishing and distribution of news releases," Michael said. "The rapid changes in communications as a result of social media now make it imperative to immediately understand the impact of outbound messaging: What happens to it, what's the reaction to it, and how is it used to evaluate and strategize future messages? Sysomos furthers Marketwire's technological capabilities to make this possible for our clients."
Marketwire operates 20 offices around the world with a combined total of more than 11,000 clients.