The acquisition will see Talkwalker’s headquarters in Kirchberg, Luxembourg, become a European headquarters for the combined company, with the two companies focusing on AI-led insight on social performance.

Talkwalker was founded in Luxembourg in 2009 and has nine offices worldwide. The firm was acquired by Marlin Equity Partners in 2018, after which the company agreed deals for firms such as Discover.ai and Nielsen Social.

Irina Novoselsky, chief executive at Hootsuite, said: “The industry is entering a new era of social media performance. To achieve this, we’re building a social media performance engine, a feedback loop where AI takes consumer data and generates insights for actionable strategies and measurable impact.

“The combination of the world’s best insights technology, Talkwalker, brought into Hootsuite, leapfrogs the industry into the future of social marketing.”

Lokdeep Singh, chief executive at Talkwalker, said: “I am confident that this acquisition marks a significant milestone not just for Talkwalker, but for Luxembourg as well.

“Together with Hootsuite, we’ll continue to harness Luxembourg’s dynamic environment, propelling innovation, driving growth and serving our customers, as we shape the future of social analytics and performance on a global scale.”