Salesforce.com to buy Buddy Media
2012-06-06Salesforce.com is believed to acquire Buddy Media for about $689 million in a cash and stock deal.
Marc Benioff, CEO, Salesforce.com shared, "The addition of Buddy Media to Salesforce.com's CRM (customer relationship management) applications for sales and service will allow Salesforce.com to offer companies the ability to manage "the social media lifecycle in one unified platform."
Buddy Media enables the world's top brands and advertisers to connect with more than a billion customers on Facebook, Google, LinkedIn, Twitter, YouTube and other social networking sites. The Buddy Media platform is said to allow customers to publish content, place and optimise social advertising and measure the effectiveness of social media marketing programs and allows customers to find out which content is driving the most engagement, test different strategies and understand which campaigns are delivering the greatest return on investment.
According to market sources, Salesforce.com is expected to pay approximately $467 million in cash and $184 million in salesforce.com common stock, and $38 million invested salesforce.com options and restricted stock units.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.