Salesforce.com has acquired Buddy Media for a huge $689 million deal which would enhance the social marketing and software usage over the internet. With growing competition, there’s a greater emphasize on marketing via Social Networks like Facebook and Twitter. Salesforce creates software packages that can keep its customers on track with the sales reports and provide enhancements by giving new sales opportunities.
Buddy Media is a site that allows users to create content on Social Networks, place ads over there and effectively track their campaigns. Salesforce will be able to deliver a package that lets customers “engage, gain insight, publish, advertise and measure social marketing programs,” Michael Lazerow, CEO and co-founder of Buddy Media, said in a blog post Monday.
Salesforce.com is used to provide business software applications online and will continue to do so in the case of Buddy Media as well. This means that, customers can still be online and get reports on Social Media marketing campaigns rather than installing licensed copies on their machines.
Buddy Media has already a thousand customers including the big ones like Ford, Hewlett Packard, L’Oreal and more such. For the $689 Million deal, Salesforce will pay $467 million in cash and $184 million in common stock, plus $38 million in options and restricted stock units.