Hearsay Systems has acquired the technology and intellectual property assets of Mast Mobile Inc., a privately held company offering mobile-first unified communications for modern enterprises, fully integrated with CRM systems.
With the purchase, Hearsay will apply Mast’s technology to advance its Hearsay Messages text-based client outreach solution for financial advisors and insurance agents. The acquisition will accelerate the company’s investments in deeper CRM integration and advanced voice capabilities for Hearsay Messages, enabling advisors to unlock new levels of productivity and opportunities to engage with clients.
With Hearsay Messages, advisors are able to send and receive text messages from clients on any device, including their mobile phones, while staying within company policies and industry regulations. According to Gaurav Agarwal, Hearsay vice president of product, Mast’s user-specific technology will help advisors compliantly text and call their clients, as well as build more personal relationships with Hearsay Messages.
“Financial services firms are faced with balancing their regulatory responsibilities with today’s bring-your-own-device reality. Advisors want to use their own mobile phones for business, but still keep their personal and business activities separate,” Agarwal said in a statement. “Mast Mobile has had a fantastic record of developing successful enterprise communication solutions in the mobile space. They’ve been innovative in building for the way sales reps actually work, and the way they use their mobile phones for business every day.”
Mast co-founder and CEO David Messenger will work with Hearsay in an advisory capacity.
“We’ve been following Hearsay closely for several years and seen the tremendous impact they’ve had in transforming the financial services industry,” said Messenger, of Mast. “We couldn’t have found a better fit for our technology, and I’m excited to see how the outcome will further improve advisor productivity and provide an exceptional mobile experience for both advisors and their clients.”
Terms of the acquisition were not disclosed.
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