In Salesforce.com, the enterprise cloud computing company, has announced that it has entered into a definitive agreement to acquire Radian6, a social media monitoring platform, for approximately $276 million in cash and $50 million in stock, net of cash acquired.
The transaction is expected to be completed in salesforce.coms fiscal second quarter ending July 31, 2011, subject to customary closing conditions.
Apparently, Radian6 is considered the market and technology leader in social media monitoring and engagement by many people.
Founded in 2006, Radian6 was created with the idea that companies need to monitor the social web in order to effectively join conversations with customers and prospects. Radian6s technology captures hundreds of millions of conversations every day across Facebook, Twitter, YouTube, LinkedIn, blogs and online communities, and provides actionable insights in real-time.
Radian6s products include a monitoring platform designed to help companies track and analyze their social media efforts, as well as an engagement platform to help companies connect with individuals and communities online. The intelligence gained from these conversations has become critical in helping companies better market and sell to prospects, service customers and understand whats being said about their brand, products, competitors and services.
With Radian6, salesforce.com is gaining the technology and market leader in social media monitoring, said Marc Benioff, Chairman and CEO, salesforce.com. We see this as a huge opportunity. Not only will this acquisition accelerate our growth, it will extend the value of all of our offerings, he added.
According to Marcel LeBrun, CEO of Radian6, Joining the salesforce.com team will allow Radian6 to grow faster to meet the demands of our rapidly expanding customer base.
Radian6 will deliver insights from the public social web to Salesforce.coms products.
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