updated - October 29, 2020 Thursday EDT
The Oracle Corporation has just announced that it has signed an agreement to acquire Maxymiser, a leading provider of cloud-based software, according to Oracle's press release that is published in Market Watch.
The acquisition will strengthen the Oracle Marketing Cloud, the fastest-growing software platform for modern markets in the world.
Maxymiser will be added to Oracle Marketing Cloud to strengthen its comprehensive solution to manage marketing programs, according to the press release.
The solution is able to manage marketing programs across all digital channels and across the customer lifecycle.
Thomas Kurian, president, Product Development at Oracle, said that companies have increased in "seeking innovative ways to differentiate their brands."
"Together with Maxymiser, Oracle Marketing Cloud enables enterprises to stop guessing and start delivering what customers want across all digital channels and devices," he said.
Fortune adds that Ray Wang, founder and principal analyst at Constellation Research, said that this is a smart buy for Oracle.
"Today's customer experience initiatives span multiple settings and channels, from your car to your desktop to your mobile device," he said. Maxymiser quantifies this journey "better than everyone else."
Fortune adds that the key with marketing campaigns is to target the right people with a message tailored to them, instead of sending messages to a wide array of audiences.
This usually lands in Spam inboxes or annoys the wrong recipient.
Fortune adds that the tools that Maxymiser offer claim to make these aspects of customer relationship management, or CRM, easier.
Something that Oracle will benefit from.
Holger Mueller, vice president and principal analyst at Constellation Research, told Fortune that the deal will address what's missing in Oracle.
"This deal shows Oracle still doesn't have all pieces together for CRM, in this case, marketing and customer experience, which is the ongoing battleground for CRM buying decisions," he said.
Details of the deal weren't disclosed in the press release.
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