Sprout Social (SPT) said Wednesday it has acquired predictive media intelligence firm NewsWhip for $55 million in cash and up to $10 million in performance-based cash earnouts for the next two years.
Sprout said it funded the acquisition with its revolving credit facility and cash on its balance sheet.
As part of the acquisition, the NewsWhip team will join Sprout, with NewsWhip co-founder and Chief Executive Paul Quigley stepping into the role of general manager for Sprout's Listening business, the company said.
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