Salesforce.com Signs Definitive Agreement to Acquire Buddy Media for $689M

Salesforce.com

today announced that it has entered into a definitive agreement to acquire Buddy Media, the world's leading social media marketing platform, for approximately $689 million payable in cash and salesforce.com equity. The transaction is expected to be completed during salesforce.com's fiscal third quarter ending October 31, 2012, and is subject to customary closing conditions. Comments on the News "Salesforce.com now has the number one players in social listening and marketing – Radian6 and Buddy Media," said Marc Benioff, chairman and CEO, salesforce.com. "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." "Social media has caused the biggest transformation in marketing since the Mad Men era, causing CMOs to completely re-think their strategies," said Marcel LeBrun, SVP of Salesforce Radian6. "By bringing together market leaders Radian6 and Buddy Media, we are doubling down on the Salesforce Marketing Cloud to provide CMOs with the ability to manage the entire social marketing lifecycle." "Buddy Media's mission is to eliminate the current state of anarchy in social marketing," said Michael Lazerow, co-founder and CEO, Buddy Media. "With the Salesforce Marketing Cloud, marketers will be able to unify their efforts to better organize their teams, optimize their social programs and deliver real business results."