Buddy Media acquired for $689M
Salesforce.com has announced that it intends to acquire Buddy Media for the sum of $689 million USD, a significant investment by the cloud software as a service provider.
Buddy Media is the social enterprise software of choice for eight of the world’s top ten global advertisers, empowering them to build and maintain relationships with their consumers in a connections-based world. “Buddy Media offer a robust suite of products designed to help brands build and maintain relationships with consumers to accelerate their business” which fits well with the “Social Enterprise” vision from Salesforce.
Commenting on the sale, Buddy Media founder and CEO Michael Lazerow said
The idea behind the deal is simple. By combining Buddy Media with the rest of salesforce.com’s products, including Salesforce Radian6, the leading social media listening platform, we will be able to deliver the first comprehensive Marketing Cloud that will allow customers to listen, engage, gain insight, publish, advertise and measure social marketing programs.
The transaction is expected to complete by the end of October 2012. To find out how Buddy Media could help you leverage more from your Salesforce.com investment, get in touch today.