Wayra, the accelerator subsidiary of telecommunications company Telefónica, has exited Argentina-based social media management platform developer SocialTools through an acquisition by an unnamed US-based investment fund, La Voz has reported.
Founded in 2012, SocialTools has built a software platform that enables businesses to manage their marketing on social media.
Wayra had taken a 10% stake in the company before venture capital firm 500 Startups invested more money. It was bought for an undisclosed sum.