ShareRoot Ltd (ASX:SRO) has completed the acquisition of The Social Science (TSS), expanding the company’s product offering.
TSS is a growing and profitable social media and digital marketing agency focused on the health and life sciences industries.
ShareRoot first entered into the binding agreement to acquire TSS in December 2017.
READ: ShareRoot to acquire profitable digital content agency
ShareRoot’s CEO Noah Abelson-Gertler said: “Completing the acquisition brings both capabilities for executing data and privacy compliant social media campaigns in addition to a creative and strategic marketing team into ShareRoot.
“These additions significantly expand our skill sets and services in the effort to offer high impact digital marketing products and services that respect consumer data and privacy and deliver on communication and business objectives.”
Immediate positive impacts on revenues
Significantly, the integration of TSS will have an immediate positive impact on the revenue for Shareroot.
It will also add additional income streams and expand offerings to customers globally.
WATCH: ShareRoot pitches MediaConsent solution to data privacy concerns for consumers and companies
Based in Silicon Valley, ShareRoot is positioned to become a major player in the marketing data and privacy protection ecosystem.
The company’s original platform works with brands and digital agencies to easily find and legally source user-generated content (UGC) such as photos and videos.
ShareRoot is looking to complement this existing platform with the roll-out of the MediaConsent platform.
The new MediaConsent platform aims to protect companies from being sued in a world of rapidly changing legal framework.
The growing importance for companies to know their customers is evident in the high-growth Customer Identity Management market, which is estimated to exceed $14.8 billion by 2021.
A powerful global service offering
TSS’s CEO Michelle Gallaher said: “Now more than ever, it is important for companies in all sectors to ensure that their marketing and communication strategies are both effective and respectful of consumer data and privacy whilst creating and leveraging digital content and social networks.
“As leaders in the STEM/Health space, the TSS team has been aware of the concerns around data and privacy, and ShareRoot’s superior UGC legal rights management platform and the building of the MediaConsent platform makes this acquisition and our teaming up a powerful global service offering.”