ExactTarget, an Indianapolis-based e-mail marketing firm, announced Tuesday that it has acquired CoTweet in San Francisco.
Terms of the deal were not disclosed.
Founded in 2008, CoTweet is a Web-based business that helps companies manage multiple Twitter accounts. The company’s clients include Whole Foods, McDonald's, Microsoft Corp. and Ford Motor Co.
CoTweet, which has seven employees, will operate in San Francisco as a business unit of ExactTarget and will lead the company's social-media product development.
ExactTarget spokesman Mitch Frazier said CoTweet will begin hiring additional employees immediately to help grow the operation, under ExactTarget’s direction.
“By combining the power of ExactTarget and CoTweet, we can provide businesses a complete solution to tie together all forms of interactive communications and drive deeper customer engagement online,” ExactTarget CEO Scott Dorsey said in a prepared statement.
ExactTarget had $114 million in annual revenue last year and secured $145 million in venture capital to fuel growth.