Vocus Buys Facebook Apps Maker North Social For $7M In Cash + $18M Earnout
Vocus, the publicly-listed provider of cloud-based marketing and PR software, has moved to acquire Facebook apps maker North Social, which enables businesses to create, manage and promote their business on the popular social network.
Vocus bought substantially all of the assets of North Social.
Under the terms of the agreement, Vocus paid $7 million in cash and could pay up to an additional $18 million over the next 24 months based on the achievement of certain milestones.
North Social offers 19 Facebook apps delivered in a single self-service subscription, allowing businesses of all sizes to create engaging fan pages and fan experiences.
The software basically allows users to set up custom Facebook pages in order to launch social media campaigns, integrate photos and videos, incorporate feeds from sites like Twitter and Yelp, offer sweepstakes, sign up volunteers and more.
North Social says its software is used by over 1,300 organizations of all sizes and types, including major brands like Coca-Cola, Sony and Hard Rock Café. Under the terms of the deal, North Social’s operations and staff will remain in Oakland, California.
Earlier this month, Vocus acquired Engine140, a social media recommendation engine that makes it easy for businesses to build their brand on Twitter and other social networks.
The move in fact marks the fifth acquisition Vocus has made in the last 12 months or so.
Vocus meanwhile registered a significant loss of $821 million in the fourth quarter. Revenue rose to $26 million, compared with $22 million a year prior.
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