Salesforce to Buy Buddy Media for $689 Million |
| Wall Street Journal - Jun 4, 2012 |
Salesforce.com Inc. CRM -2.08%has agreed to acquire Buddy Media for $689 million, continuing its rapid expansion into social-media marketing.
Salesforce, which is known for its cloud-based sales-management software, has said its enterprise customers need to become "more social and mobile."
Buddy Media was founded in 2007 to provide chief marketing officers and advertising agencies with a way to place content on social media and measure its effectiveness. The company's current customers include Ford Motor Co., F -0.59%Hewlett-Packard Co. HPQ -0.38%and marketing agencies like Interpublic Group of Cos. IPG 0.00%
The cash-and-equity deal, which is subject to regulatory approval, is expected to close by Oct. 31. The transaction includes $467 million in cash, $184 million in Salesforce stock and $38 million in vested options and restricted stock.
In the second half of the fiscal year ended Jan. 31, the acquisition is expected to boost Salesforce's revenue by $20 million to $25 million. It is seen reducing per-share earnings, excluding stock compensation, amortization and other impacts, by 14 cents to 15 cents.
Read Full Article from Wall Street Journal
- Posted: 2012-06-04 09:07:17
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