Samsung Group's marketing company Cheil Worldwide has acquired Shanghai-based social big data analytics service provider ColourData to strengthen its data-driven marketing capabilities.
Cheil Worldwide decided to acquire the company after having previously worked with ColourData on several social media digital marketing projects in China, which gave hands-on knowledge of its technology and growth potential. Specifically, the acquisition is hoped to empower Cheil Worldwide by allowing it to deliver more robust marketing analytics to its existing clients, while also enhancing its business development potential in China across various industries. The move also contributes to the growth of Cheil Worldwide’s digital business, which now accounts for over 40% of its revenue.
Founded in 2014, ColourData has notably developed proprietary technology that helps in the collection of posts and comments from more than 5,000 social media, news, and eCommerce websites, enabling the analysis of a brand's buzz by geography, gender, and age groups. Its systems also provide advanced, AI-powered natural language processing, real-time visualisations, and on-demand report generation.
ColourData currently supports the data-driven marketing activities of many global customers from different industries, including Samsung Electronics, Pfizer, and Schneider Electric.
In its statement on the matter, Cheil Worldwide said it will be continuing to seek merger and acquisition deals with digital agencies around the world to identify new growth drivers.