Meltwater Buys Analytics App Algo

In the US, media intelligence specialist Meltwater has acquired real-time data analytics app Algo for an undisclosed sum.

Algo was founded in 2015 by Matt Michelsen (pictured), Aaron Rama and Evon Onusic. The firm's Information Velocity algorithm uses machine learning and natural language processing to analyse market reactions to news and blogs in real-time, and uncover trends from these tens of millions of data points. Meltwater says the buy will further strengthen its media analytics and insights platform, and bring Algo's team of information processing experts in-house to oversee development of new products.

Commenting on the deal, Michelsen says: 'We're excited to marry Algo's infrastructure with Meltwater's current technology and become the global leader in media intelligence. The opportunity to help grow an international organization committed to helping its customers gain an unprecedented level of analysis is exciting'.

Web site: www.meltwater.com .