U.S.-based on-demand public relations software company Vocus has acquired China's top social media marketing software company BDL Media.
"China is one of the largest and fastest growing economies in the world with a rapidly emerging PR industry that is estimated to be over US$1 billion and growing in excess of 30% annually," said Vocus chairman and CEO Rick Rudman. "This acquisition provides a launching pad for Vocus to introduce our full suite of products into this large, growing and untapped market."
BDL Media operates Xinwengao.com, China's leading online media distribution platform, and NASDAQ-listed Vocus runs PRWeb.com. So there are synergies for the two services to expand. The deal is reportedly worth US$10 million.
BDL Media also sells social media analytics and Internet news monitoring. The company was founded by publishing veteran Paul Doyle and Danny Levinson, who previously worked at media monitoring rival Sinofile before forming the company in 2004. Both founders will apparently remain with the company after Vocus' acquisition.
BDL Media has staff and operations in Shanghai, Shenzhen, and Beijing.