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The Associated Press June 5, 2012, 12:05PM ET

Oracle buying Collective Intellect

Oracle is buying social intelligence company Collective Intellect Inc. for an undisclosed sum to expand its social media tracking services.

Collective Intellect helps businesses monitor and respond to consumer conversations on Facebook, Twitter and other social media platforms. The privately held company is based in Boulder, Colo.

Oracle Corp., based in Redwood Shores, Calif., announced the deal Tuesday and says it will close in the second half of the year.

The deal comes a day after Inc. announced that it would buy social media marketing company Buddy Media. As more companies promote themselves on social media, technology companies are looking for ways to help customers manage their presence in those mediums.

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