Salesforce.com to acquire Buddy Media

SAN FRANCISCO, USA: Cloud major Salesforce.com announced that it would acquire Buddy Media, a social media marketing platform, for approximately $689 million.

"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."

The transaction is expected to be completed during salesforce.com's fiscal third quarter ending October 31, 2012, and is subject to customary closing conditions.

"Buddy Media's mission is to eliminate the current state of anarchy in social marketing," said Michael Lazerow, co-founder and CEO, Buddy Media. "With the Salesforce Marketing Cloud, marketers will be able to unify their efforts to better organize their teams, optimize their social programs and deliver real business results."

Founded in 2007, Buddy Media started as an idea to empower chief marketing officers (CMOs) and agencies to organize their teams and optimize social media marketing programmes. The Buddy Media platform allows customers to publish content, place and optimize social advertising and measure the effectiveness of social media marketing programmes, says a release.

By combining Buddy Media with Salesforce Radian6, Salesforce.com will deliver the first comprehensive Marketing Cloud that will allow customers to listen, engage, gain insight, publish, advertise and measure social marketing programs. With the Salesforce Marketing Cloud, CMOs will be empowered to manage social marketing lifecycle, adds the release.