Yext Announces Acquisition of Hearsay Systems to Enhance Digital Client Engagement | Martech Edge | Best News on Marketing and Technology
Yext Announces Acquisition of Hearsay Systems to Enhance Digital Client Engagement

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Yext Announces Acquisition of Hearsay Systems to Enhance Digital Client Engagement

Yext Announces Acquisition of Hearsay Systems to Enhance Digital Client Engagement

Business Wire

Published on : Jun 11, 2024

Acquisition will enable Yext to provide a single digital marketing platform to power the customer journey from prospect to loyal customer

Yext, Inc., a leading digital presence platform for multi-location brands, has announced its definitive agreement to acquire Hearsay Systems, a global leader in digital client engagement for financial services. This strategic move aims to combine Yext's digital presence management platform with Hearsay Systems' compliant engagement solutions, creating a powerful platform for customer conversion and loyalty.

Key Points from the Acquisition:

  1. Strategic Synergy:
    • Integration of Yext's digital presence management with Hearsay Systems' compliant engagement solutions.
    • Consolidated platform to power the customer journey and improve customer conversion rates.
  2. Industry Impact:
    • Benefits for financial firms with Hearsay System's compliance-driven platform for client engagement.
    • Access to more channels and consolidated analytics for improved performance.
  3. CEO Statements:
    • Michael Walrath emphasizes the efficiency and performance benefits of consolidating digital marketing channels.
    • Michael Boese highlights the innovative opportunities for AI in digital marketing and customer engagement.
  4. CRM Integration:
    • Integration of Hearsay Systems' solutions with CRM systems like Salesforce for enhanced contact management and workflow orchestration.
  5. Transaction Details:
    • Acquisition details including the purchase price of $125 million with potential additional payments based on performance targets.
    • Expected closing in the second half of Yext's fiscal year 2025, subject to regulatory approvals.

Conclusion:
The acquisition of Hearsay Systems by Yext represents a significant advancement in digital client engagement for financial services. The combined expertise and technology of both companies will empower brands to navigate regulatory challenges, improve customer interactions, and drive business growth through AI-powered solutions.