Cheil worldwide has concluded a share purchase agreement with ColourData, one of China’s leading and most innovative social big data analytics service providers, to strengthen its data-driven marketing capability.
Founded by a group of big data experts in 2014, the Shanghai-based ColourData has developed proprietary technology that helps it collect postings and comments from more than 5,000 social media, news and e-commerce websites, giving the company the ability to analyze buzz by geography, gender, and age group. It also features advanced, AI-powered natural language processing, real-time visualizations, and on-demand report generation.
Cheil Worldwide has worked with ColourData on several social media digital marketing projects in China and moved to acquire the company after recognizing its competitive technology and high potential for growth.
The acquisition empowers Cheil Worldwide to deliver more robust marketing analytics to its existing clients, while also enhancing its business development potential in China across a range of industries. The move will also contribute to the continuous growth of Cheil Worldwide’s digital business, which now accounts for over 40 percent of revenue.
Web : https://www.cheil.com/hq