Two big customer review platforms are teaming up: Bazaarvoice just announced that it has agreed to acquire PowerReviews.
The agreement is for up to $31 million in cash, plus stock, bringing the total estimated value to be $151 million. Bazaarvoice says the acquisition should close before the end of July.
The companies plan to combine their technology, content, and data. Both offer social commerce products that allow retailers and brands to collect and syndicate customer reviews, as well as other content. The release says PowerReviews’ self-service product will allow Bazaarvoice, which has been focused on larger companies, to expand into the small- and medium-sized market.
The combined company supposedly serves nearly 1,800 clients globally, including half of the Internet Retailer 500.
PowerReviews has raised a total of $37 million in funding from Menlo Ventures, Draper Richards, Lehman Brothers, Tenaya Capital, Four Rivers Group, and others. Bazaarvoice, meanwhile, went public earlier this year.