This is a very special day for Teradata and especially for Teradata here in Europe. We have some exciting news to share: We just signed a definitive agreement to acquire eCircle, the European leader in cloud-based digital marketing. This is very exciting for both companies and it is a strategic step for Teradata. After acquiring Aprimo, a global leader in cloud-based integrated marketing software last year, we continue to invest in marketing applications.
First of all I am thrilled to welcome great knowledge, experience and consulting power to our Teradata and Aprimo team. Together with eCircle we will more than triple our Aprimo team in Europe creating the largest marketing applications provider in Europe.
The digital marketing space is an exciting space to be in. It is growing quickly in both the US and Europe. Digital Marketing which includes social, mobile, web and email is an essential focus for marketers. Forrester1 estimates the digital marketing market to be a $6 billion market opportunity today, growing to $16 billion by 2016.
I am convinced that the great combination of Teradata's analytical capabilities, Aprimo's Integrated Marketing Management and eCircle's digital messaging solution will enable marketers worldwide to create integrated customer experiences across online and offline channels that leverage Big Data insights to grow existing customers, attract new customers, and increase revenues. For Teradata this makes a lot of sense since according to McKinsey2, the world's data is doubling every two years and digital campaigns are the source of some of the largest and most complex big data sets used by marketers.
So, the addition of eCircle's visionary digital marketing applications to Teradata and Aprimo enhances Teradata's big data market opportunity. We intend to leverage Big Data Analytics to unlock the insights of these combined digital data streams, and provide marketers with the capability to perform effective digital marketing optimization in a way that is not possible with any other digital marketing technology.
Today is a very special day both for Teradata and eCircle and I look forward to having our dedicated Teradata team joined by the highly skilled people from eCircle.
We will keep you posted on our joint roadmap that will continue helping our customers stay ahead of the competition.
1Forrester Research Inc., US Interactive Marketing Forecast, 2011 To 2016, September 2011
2McKinsey Global Institute report titled Big Data: The Next Frontier for Innovation, Competition, and Productivity, June, 2011.