Salesforce.com buying social marketing vendor Buddy Media in $689 million deal

The move follows Oracle's recent purchase of Buddy Media competitor Vitrue

Salesforce.com is acquiring social media marketing firm Buddy Media in a US$689 million cash and stock deal, the companies announced Monday. The transaction is expected to close in Salesforce.com's third fiscal quarter, which ends Oct. 31.

Buddy Media counts Ford, Mattel and Hewlett-Packard among its approximately 1,000 customers, according to a statement. Its capabilities for delivering targeted marketing content through Facebook, LinkedIn and YouTube will build on the social media monitoring technology Salesforce.com gained through last year's purchase of Radian6.

"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.com CEO Marc Benioff said in a statement.

The announcement was not unexpected, coming about a week after an AllThingsD report that said the companies were close to an agreement. However, that report cited sources saying the acquisition price was above $800 million.

Salesforce.com's move also comes shortly after rival Oracle's purchase of Vitrue, a Buddy Media competitor.

Buddy Media and Salesforce.com executives are expected to discuss the acquisition further during a conference call Monday.

(More to follow).

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is Chris_Kanaracus@idg.com

Join the newsletter!

Or
Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Chris Kanaracus

IDG News Service
Show Comments

Essentials

Mobile

Victorinox Werks Professional Executive 17 Laptop Case

Learn more >

Sansai 6-Outlet Power Board + 4-Port USB Charging Station

Learn more >

Exec

Budget

Back To Business Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?