Bazaarvoice Acquiring PowerReviews For $151 Million
Bazaarvoice is a customer review platform that is acquiring PowerReviews for $151 million. The agreement is for $31 million in cash plus stock. The acquisition is expected to close by the end of July. The companies are planning to combine their technology, content, and data. Both will offer social commerce products for retailers. PowerReviews’ self-service products allows Bazaarvoice to expand into the small- and medium-sized market. Bazaarvoice has been focused on larger companies up until now. The combined company will serve 1,800 clients globally including half of the Internet Retailer 500. PowerReviews had raised $37 million in funding from Menlo Ventures, Draper Richards, Lehman Brothers, Tenaya Capital, Four Rivers Group, and several other companies.