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Facebook To Buy Customer Service Startup Kustomer

Facebook Inc. (FB) said that it agreed to buy a customer service startup Kustomer. Financial terms of the deal were not disclosed.

But, the deal could reportedly value the New York-headquartered startup at more than $1 billion.

The transaction will be subject to customary closing conditions and regulatory approval.

Kustomer is an omnichannel CRM platform that brings customer conversations from various channels together into a single-screen view.

Facebook noted that Kustomer businesses will continue to own the data that comes from interactions with their customers. Facebook eventually expects to host Kustomer data on secure Facebook infrastructure.

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