Hootsuite, the Vancouver-based social media management company, announced it will be making its tenth acquisition since its founding in 2008. The company plans to buy Sales Prodigy, a mobile app that assists corporate clients with their sales efforts by monitoring the social media activities of their sales leads.
Sales Prodigy is also based in Vancouver and was founded in 2014. It does not appear to have raised any significant growth capital. Terms of the transaction were not disclosed.
Hootsuite is one of the best known and most highly regarded Canadian tech companies these days. It has raised almost $250 million in growth capital from some of the largest and most infuential VC funds in the US and Canada. It is nice to see that it has been deploying some of this capital towards acquisitions, especially considering at least half of the companies it has acquired have been Canadian.
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