Cheil Worldwide is acquiring ColourData, a Chinese-based social data analytics shop, to strengthen its data-driven marketing capabilities. Financial terms of the deal were not disclosed.
Founded in 2014, the Shanghai-based ColourData has developed proprietary technology to help it collect postings and comments from more than 5,000 social media, news and e-commerce websites.
The company is then able to analyze conversations by geography, gender, and age group. It also features advanced, AI-powered natural language processing, real-time visualizations, and on-demand report generation.
Under the deal, the company will remain in China and the 30+ team will continue to be led by CEO Craig Yu and CTO Eason Chen.
Cheil Worldwide has worked with the firm on several social media digital marketing projects in China and decided to purchase the shop after realizing the potential in offering this competitive technology to clients.
Despite COVID-19 uncertainty, Cheil leaders say they will continue to pursue M&A deals with other global digital-oriented agencies as the network seeks to bolster its services to better position it for future growth.