Salesforce.com Gets Social With $689 Million Buddy Media Acquisition
Salesforce.com, the cloud computing company confirmed its acquisition of social enterprise technology company Buddy media for $689 million USD.
Founded in 2007, Buddy Media was created to help brands and agencies to optimise social media marketing campaigns across resources like Facebook, Google, LinkedIn, Twitter and YouTube. With its other recent acquisition being social media monitoring tool Radian6, Salesforce.com has further strengthened its social credentials in being able to measure and manage social media activity.
"Salesforce.com now has the number one players in social listening and marketing – Radian6 and Buddy Media," said Marc Benioff, chairman and CEO of salesforce.com. Benioff continues, "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."
In the press release issued and its conference call, Salesforce.com states that: “It will acquire Buddy Media for approximately $467 million in cash and $184 million in salesforce.com common stock, and $38 million in vested salesforce.com options and restricted stock units.” Salesforce.com expects the deal to be completed within three-months and finalised at the end of October.
The recent acquisitions and IPOs of technology companies has been under much scrutiny, now more than ever and has some watchers are rightly wondering when the tipping point will be. The Salesforce.com move may be a shrewd move, but for others such as Russian social According to Bloomberg, Salesforce.com doesn’t appear to be the only software makers eyeing this space with Oracle Corp and SAP AG snapping up and looking to acquire social media specialists. No doubt the current space will become a hotbed of interest and the role of social media will only continue to intensify.