Constant Contact Pays $15M For Bantam Live
Waltham, MA-based online marketing technology firm Constant Contact (NASDAQ: CTCT) announced today that it has acquired Bantam Live, a New York-based social customer relationship management technology provider owned by Bantam Networks, for $15 million in cash. The acquisition, which closed on February 15, will enable Constant Contact to create a unified repository of data across all of its channels, including e-mail, social media, and surveys. The social CRM technology will also be rolled out into a paid social media marketing product that Constant Contact plans to release later in 2011. All of Bantam Live’s team will remain in New York, as part of a Constant Contact development office that will open in the city this year.