Verint announces plans to acquire Conversocial
Verint Cloud Platform adds conversational AI capabilities and data insights.
Customer engagement company Verint announced its upcoming acquisition of conversational AI platform Conversocial. The deal will add AI conversation and messaging capabilities to the Verint Cloud Platform, which supports cross-channel engagement for brands like Sephora and British Airways.
These capabilities help marketers adapt to one-to-one strategies, where consumers expect to be heard. With the acquisition, Verint Cloud Platform will cover common messaging channels like Apple Business Chat, Facebook Messenger, Twitter, WhatsApp and others.
The transaction is valued at $50 million in cash. Conversocial has approximately 80 employees, with offices in London and New York. Verint is headquartered in Melville, New York. The transaction is expected to be finalized at the end of the third quarter this year.
Why we care. Having a presence on every channel is a minimum for the big brands, and not having it is a missed opportunity for any other sized organization. But in order to be even more competitive in the fragmented digital landscape, brands also need a level of orchestration to manage customer journeys across these same channels.
AI-powered conversational capabilities enable a brand to be more present and receptive to consumers’ needs when they feel like expressing them to a chat bot or WhatsApp account. AI-powered knowledge management, included in Verint’s new offerings, will also allow marketers to gain more insights from the data derived from these conversations.