Salesforce.com Scoops Up Buddy Media For $689 Million

Salesforce.com Scoops Up Buddy Media For $689 Million
News
Like Us On Facebook
Like Us On Facebook

Salesforce.com has officially entered into an agreement to acquire Buddy Media, the companies announced today. According to enterprise cloud-computing firm Salesforce.com, it will pay $689 million in cash and equity to acquire the social media marketing company, confirming earlier reports that the firms were nearing a deal.

The companies expect the deal to close during Salesforce’s fiscal third quarter ended October 31.

For Salesforce, the synergy between the companies made the deal. Salesforce currently offers a “social media listening platform” called Radian 6 that the company says, will be vastly improved by Buddy Media’s social media marketing service.

“Salesforce.com now has the number one players in social listening and marketing – Radian6 and Buddy Media,” Marc Benioff, chairman and CEO of salesforce.com said today in a statement. “With CMOs surpassing CIOs in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity.”

Under the terms of the deal, Salesforce will pay Buddy Media $467 million in cash. Another $184 million will come in the form of Salesforce stock. The remaining $38 million will include vested Salesforce options and restricted stock units.

In pre-market trading, Salesforce.com is trading down nearly 2 percent this morning to $128.46 following news of the acquisition.

CNET

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Preston Waters

Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

More In News

World Sean Levinson

Anti-Semitic Rioters In France Destroy Jewish Shops, Chant ‘Death To Jews’

Pro-Palestinian demonstrators in France held a rally on Sunday that saw the businesses of Paris’ Jewish community vandalized and looted. Glass windows were broken and cars were burned as protestors shouted “Death to Jews,” and “Slit Jews’ throats.” The rioters, armed with petrol bombs and batons, were just yards away from the local synagogue when […]

Also On Elite

Envision

What Types Of Powers Would Your Favorite Websites Have If They Were Superheroes?

Websites: They’re just like superheroes. If you think about it, Google would be the unstoppable powerhouse with an untamable obsession with world domination. Facebook, on the other hand, would be “an eccentric young billionaire who runs a company used by basically everyone.” All of this comes according to these illustrations drawn up by a user, who […]

World

Good Guy Grandson Shaves Beard For Grandma’s 100th Birthday (Video)

Facial hair has been in for a while lately, and while it can go dangerously wrong, it can also go dangerously right. However, for Scott Cleveland, his grandmother never got on board with his very full beard. As a result, two years ago, Scott promised her that he would shave it for her 100th birthday. […]

World

Proving The Doubters Wrong: Scientists Say Atheists May Not Actually Exist

Evidence from various disciplines suggests that atheism may not actually exist, as apparently what you believe in isn’t something you decide for yourself. Scientists say humans are pattern-seekers from birth. We believe in cosmic justice as a default setting, and Pascal Boyer writes in science journal Nature that “a slew of cognitive traits predisposes us to faith.” […]

Humor

Siri Just Snitched On A Girl For Having Two Boyfriends (Photo)

Siri is a microphone-based personal assistant on Apple’s iOS that allows you to yell at your phone at an increasingly high volume until you finally decide to do whatever you were trying to do by hand to save yourself anymore frustration. I’ve heard rumors that every once in a while Siri manages to process what […]