Lithium and Spredfast Merger Will Create Conversational Engagement Management Across Social and Communities
Lithium Technologies LLC and Spredfast Inc. announced their agreement to merge to create a new digital customer engagement company
This will enable brands to use a single platform to manage and measure a company's owned brand channels, including communities and social media. The company will be privately held by Vista Equity Partners, which acquired Lithium in June 2017.
“Brands focus on improving the trust they earn with their customers. Their success depends on world-class digital engagement, and the merger of Lithium and Spredfast will provide them with the best platform to earn that trust and help grow their business.”— Pete Hess, CEO, Lithium
Among the highlights:
- The combination of Lithium and Spredfast will create a single platform to connect with, manage, and interact with all of a company's owned brand channels, including brand communities and social media.
- Vista Equity Partners, which acquired Lithium in June 2017, will own the new private company created from the merger.
- The combined company will be led by Pete Hess as CEO. Hess is the Lithium CEO and a senior partner with Vista Equity Partners.
- Spredfast Chairman and CEO Rod Favaron will work closely with the management team to help ensure a smooth and successful transition.
- The combined company will be headquartered in San Francisco, California, and the company's largest office will be in Austin, Texas.
“This is a great day for Spredfast. We can't wait to come together with the Lithium team to create the industry's most innovative and robust suite on the market.”— Rod Favaron, Chairman and CEO, Spredfast
"We are thrilled to welcome Spredfast to our portfolio of high-performing software companies," said Alan Cline, principal at Vista Equity Partners. "We see an incredible opportunity to unify consumer engagement in the highly fractured marketing and care industries, bringing together the power of two best-of-breed offerings into a game-changing platform for growth."