Hootsuite has announced the acquisition of AdEspresso, an SaaS solution for Facebook and Instagram advertising.
The social media management platform said in a statement that AdEspresso will continue as a self-service ads management product, with the acquisition meaning that the company now sits at the nexus of more than $500 million in annualised social spend.
Hootsuite CEO Ryan Holmes said the acquisition reflects that social advertising has become a vital aspect of marketing.
“Companies are looking for ways to reach an active, engaged audience while getting more mileage from content and advertising spend,” he said.
“With AdEspresso, we’re bringing our users a simple, powerful, battle-tested solution that delivers measurable ROI.”
Facebook’s vice president of marketing partnerships, Blake Chandlee, said Hootsuite’s acquisition of AdEspresso shows that there is a huge opportunity in building customised services on the social media giant’s open APIs to help each business meet their goals.
“Millions of organisations use Facebook advertising to drive the outcomes that matter most to them,” he said.