Yext Buys Location Intell Specialist Places Scout

New York-based digital presence and knowledge management platform Yext has acquired Places Scout, a platform for local SEO, location intelligence and benchmarking.

Yext uses machine learning technology to help companies deliver 'consistent, accurate and engaging experiences' and connect with customers anywhere in the digital world. It also provides clients with cross-channel analysis and insights to inform decision-making. By acquiring Places Scout, which delivers real-time, location-based insights to assess performance, track competitors and optimize visibility across the major search channels, Yext says it enhances its ability to provide 'best-in-class competitive intelligence, benchmarking, and AI-powered insights'.

The buy builds on Yext acquisition last summer of Hearsay Systems, which offers digital client engagement solutions for the financial services sector - Hearsay cost it $125m, with an additional $95m dependent on performance, while financial details for the latest acquisition were not disclosed.

Michael Walrath (pictured), CEO and Chair of the Board at Yext, comments: 'Places Scout has been a trusted provider of local search intelligence for nearly a decade. Bringing its data into Yext immediately enhances our competitive intelligence capabilities, helping brands not just see where they stand, but know exactly what steps to take to outperform their competition. As AI search and AI agents transform how customers find information, we are committed to giving brands the insights they need to take control of their digital presence and win. We are thrilled to welcome the Places Scout team to Yext'.

The combination of the two firms brings together structured data expertise and deep search analytics, according to Mark Kabana, CEO of Places Scout, 'to give brands a more powerful way to uncover opportunities, refine strategy, and outperform the competition'.

Web site: www.yext.com .