Global sports and entertainment solutions provider, KORE Software, has announced the acquisition of two brands in an attempt to improve its sponsorship and engagement marketing operations.
For an undisclosed fee, KORE Software acquired AI-powered sponsorship technology platform, Hookit, who will reportedly function as a business unit of KORE and will operate independently, as well as SSB’s pro sports vertical, which provides CRM for sports organisations.
Through the acquisition of Hookit, KORE hopes to provide increased support for its clients in measuring and managing the value of their commercial partnerships across social media and digital especially.
Discussing the acquisition, Hookit CEO, Scott Tilton, who explained the need for Hookit’s services in an episode of Ministry of Sport’s ‘Conversations’ series, said: “We’ve been working on the same market problem to improve sponsorship effectiveness from two sides.”
“We’ve built the leading sponsorship analytics platform in collaboration with some of the world’s largest brands.
“There are so many synergies with KORE, and together we’ll be able to tell a complete ROI picture for our respective clients.
“The aim here is to accelerate the usage of data and enhance strategic partnerships,” Tilton said.
KORE CEO, Jason Fletcher, said: “This is a monumental step forward for our market.”
“We are stronger together and are excited to start this journey with a partner like Hookit,” Fletcher said.
Combined with the SSB pro sports business, the two acquisitions will see KORE’s portfolio add more than 50 new customers, seeing the company service almost 1,000 sports properties, 20,000 athletes, and more than 100 brands.
Notably, Hookit currently works with brands including New Balance, Red Bull, Audi, Visa, TaylorMade, Bose, and Oakley, while SSB’s pro sports vertical provides sports, entertainment and education assistance for sports organisations including the NFL, NBA, NHL, MLB, MLS, NCAA, NASCAR, and several clubs within these organisations.
