Yext has announced a definitive agreement to acquire Hearsay Systems, digital client engagement platform for financial services. The deal is valued at $125 million, with an additional potential $95 million contingent on achieving specific performance targets.
“Customers are increasingly looking to consolidate digital marketing channels into one platform to increase efficiency, improve performance, and reduce costs. Yext already provides access to more channels than any other provider. With Hearsay Systems, we’ll provide even more ways for brands to connect with their customers one-to-one. Our combined technology will bring instant value to our regulated customers, and we see an opportunity to bring these solutions to other industries. Yext is focused on solving customer problems, and with Hearsay, we can bring the innovation they need faster,” said Michael Walrath, CEO and Chair of the Board at Yext.
The acquisition merges Yext’s digital presence management platform with Hearsay Systems’ compliant engagement tools across social media, websites, text, and voice. This aims to create a unified digital marketing platform that enhances the customer journey, helping brands convert prospects into loyal customers more efficiently.
Hearsay Systems is trusted by the world’s top financial firms for its compliance-focused platform, which scales outreach, optimizes client engagements, expands business, and delivers superior client service. By integrating with Yext’s product suite and AI technology, brands can access multiple channels within a single platform, utilizing consolidated analytics and recommendations to enhance performance across all channels.
“Hearsay Systems has a long history of innovation for financial services, building transformational client engagement solutions and successfully bringing AI to a highly regulated industry. We are excited to provide an expanded solution set to our customers and introduce Hearsay solutions to customers across additional industries. We've only just begun to see the opportunities for AI in digital marketing. By combining our resources and technology with Yext, we'll be able to deliver even more value to brands as they look to leverage the power of AI,” said Michael Boese, CEO of Hearsay Systems.
Hearsay Systems’ solutions integrate seamlessly with CRM systems, including a notable partnership with Salesforce, which invested in Hearsay in 2020. Elsewhere, Yext has launched Listings Recommendations to transform how brands boost their visibility in organic search.
