CANADA— PR distribution agency Marketwire has confirmed its acquisition of social media monitoring and analysis firm Sysomos.

Rumours of the deal surfaced yesterday but Sysomos remained tight-lipped and said it had no comment to make. The deal was then closed later in the day.

Marketwire president and CEO Michael Nowlan said: “This is a critical step in our integrated communication solution strategy. The rapid changes in communications as a result of social media now make it imperative to immediately understand the impact of outbound messaging: what happens to it, what’s the reaction to it, and how is it used to evaluate and strategise future messages?”

Sysomos’ key product offerings, MAP (Media Analysis Platform) and social media monitoring tool Heartbeat, will be offered to clients under the Marketwire brand.

Nick Koudas, Sysomos president and co-founder, said: “There is a natural fit and synergy between Marketwire and Sysomos: our common goal is a customer-centric approach in applying technology to meet the challenges of communicating in an ever-evolving environment.”