Vancouver-based ZoomInfo announced Tuesday that it will acquire business intelligence company Chorus.ai in a $575 million transaction.
ZoomInfo operates a database of company information aimed at sales and marketing teams to help them seek out clients and broker business-to-business transactions. The company’s software-as-a-service platform gathers and organizes contact information and other business data with assistance from artificial intelligence and human research teams.
Chorus.ai is described as a “conversation intelligence” platform that uses machine learning and artificial intelligence to analyze calls, meetings and emails with prospective customers to provide additional information to sales teams, according to a press release from ZoomInfo, which will “add a new category of actionable insights” to the ZoomInfo platform.
“ZoomInfo is the only company that can marry a best-in-class data layer with world-class go-to-market applications,” ZoomInfo founder and CEO Henry Schuck said in a statement.
“The acquisition of Chorus will accelerate our vision to deliver a modern go-to-market platform that brings together best-in-class intelligence with comprehensive data management, workflow, and engagement software, empowering companies to effectively execute their revenue-generating strategies,” Schuck said. “With the largest Conversation Intelligence patent portfolio in the industry, Chorus will advance each aspect of our vision by surfacing a new category of insights, illuminating new workflows, and enabling more targeted engagement at scale.”
Chorus.ai CEO Jim Benton will join ZoomInfo as senior vice president of emerging products.
The $575 million purchase will be funded with cash on hand and $500 million in additional financing, according to the press release. The acquisition deal is likely among the largest in the company’s history.
ZoomInfo operated under the name DiscoverOrg until the company acquired former competitor Zoom Information in early 2019. The combined company adopted the ZoomInfo name later that year. At the time it was announced, the Zoom Information acquisition was reported to have cost about $500 million.
ZoomInfo went public in June of last year, raising $934 million from investors in its initial public offering. The company trades on the Nasdaq under the symbol ZI.