Yext, Inc., a prominent digital presence platform for multi-location brands, has announced its definitive agreement to acquire Hearsay Systems, a leading digital client engagement service for the financial sector. The deal, valued at $125 million with an additional $95 million contingent on performance milestones, is set to close in the latter half of Yext’s fiscal year 2025.
This acquisition aims to integrate Yext’s digital presence management tools with Hearsay Systems’ compliance-focused engagement solutions, covering social media, websites, text, and voice. The merger is intended to provide a unified digital marketing platform that enhances the conversion of prospects into loyal customers.
Hearsay Systems, known for its compliant engagement platform, currently serves over 260,000 advisors and agents, ensuring regulatory and brand standards are met in customer interactions. The combined technology of Yext and Hearsay is expected to expand reach across digital channels, supported by consolidated analytics and AI-driven recommendations to improve cross-channel performance.
Yext CEO Michael Walrath is optimistic that the acquisition will bring immediate benefits to regulated customers and has the potential to extend these solutions to other industries. Hearsay Systems CEO Michael Boese also expressed excitement for the enhanced AI-driven marketing opportunities that the merger will enable.
This transaction is subject to completion in the latter half of Yext’s fiscal year 2025 and is poised to create a stronger digital marketing entity that caters to the evolving needs of the financial sector and beyond.
