Salesforce goes social with Buddy Media buy

email article email article print article print article tip @techmeme


Business software company Salesforce has confirmed that it will buy Buddy Media for nearly US$700-million in cash and shares.

According to The Next Web, that means it’ll be forking as much as it generated in sales in the first quarter of this year for the social media campaign specialist.

It’s also a little lower than the US$800-million AllThingsD predicted Salesforce would pay towards the end of May.

Founded in 2007 by serial entrepreneur Michael Lazerow, Buddy Media helps 1 000 plus companies — including big names like HP, Mattel and Ford — maintain their social presences.

Salesforce reckons that the acquisition means that its Marketing Cloud will become “the platform of choice for brands to listen, engage, gain insight, publish, advertise and measure social marketing programmes”.

“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.”

Salesforce will pay approximately US$467-million in cash, US$184-million in salesforce.com common stock, and US$38-million in vested salesforce.com options and restricted stock units for Buddy Media. The deal is expected to go through in the final quarter of 2012.

email article email article print article print article

Related Articles on the Web

Related articles

Topics for this article

[ advertising enquiries ]

Share
  • BURN MEDIA TV

    WATCH THE LATEST EPISODE NOW
    Latest Episode
    Review of Gmail Inbox app

MORE HEADLINES

news

VIEW MORE

interviews

VIEW MORE

future trends

VIEW MORE

entrepreneurship

VIEW MORE

social media

VIEW MORE

facebook

VIEW MORE

twitter

VIEW MORE

google

VIEW MORE

advertising & marketing

VIEW MORE

online media

VIEW MORE

design

VIEW MORE

mobile

VIEW MORE

More in News

Sina Weibo drives censorship on Tiananmen Square anniversary

Read More »