Yext, Inc. (NYSE: YEXT) has completed its acquisition of Hearsay Systems, a global leader in digital client engagement for financial services. The strategic integration is intended to produce the industry's first end-to-end digital presence platform, combining Yext's digital presence management capabilities with Hearsay Systems' compliant engagement solutions across social media, websites, text, and voice.
The acquisition is expected to enable multi-location enterprises to consolidate all of their digital marketing channels in one platform and leverage the industry's most extensive set of data, insights, and recommendations to convert prospects into customers faster.
Yext's acquisition of Hearsay Systems is set to boost value by enabling robust CRM integration, including with systems like Salesforce. This integration will synchronize contact information, track client interactions, and streamline and automate workflows, providing businesses with unprecedented customer journey insights and performance improvement recommendations.
Nick Burgess, VP, Director of Social Media and Email Marketing at First Horizon Bank, a long-time customer of both companies, expressed excitement about the acquisition, stating that combining Yext's digital presence management with Hearsay's compliance-driven client engagement will significantly enhance their localized marketing efforts.
The acquisition is a significant leap forward in the industry and is poised to deliver the first platform that can manage the end-to-end customer journey from prospect to loyal customer. As a result of these announcements, the company's shares have moved -3.8% on the market, and are now trading at a price of $5.34. For more information, read the company's full 8-K submission here.
