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Salesforce To Buy Social Media Co Radian6 For $326M

Wall Street Journal - Mar 30, 2011

Salesforce.com (CRM) agreed to buy monitoring firm Radian6 for about $326 million in stock and cash in its largest deal ever, continuing the company's aggressive push to keep up with social media trends in its software platform.

Salesforce, a provider of software that manages companies' customer relationships, said Radian6's products will help clients track and analyze their outreach efforts while watching what is being said about their brand.

"With Radian6, Salesforce.com is gaining the technology and market leader in social media monitoring," Salesforce Chairman and Chief Executive Marc Benioff said. "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."

Salesforce shares were recently up 2.3% at $130.31.

Radian6's technology captures hundreds of millions of conversations each day from Facebook, Twitter, YouTube, LinkedIn, blogs and other online communities. Its clients include Dell Inc. (DELL), General Electric Co. (GE), Molson Coors Brewing Co. (TAP, TAPA) and Pepsico Inc. (PEP).

"There's nothing more important than building this new social enterprise," Benioff said. "This is fundamentally a new game for companies and the ones that are playing it well are the ones that are benefiting just dramatically."

Read Full Article from Wall Street Journal

- Posted: 2011-03-30 13:22:31

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