Salesforce.com announced this morning that it has entered into a definitive agreement to acquire New Brunswick born Radian6, an industry-leading 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.com’s fiscal second quarter ending July 31, 2011, subject to customary closing conditions.
From the press release this morning:
“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.”
“Social media has made every business recognize the value of paying attention to the voice of the customer. Radian6’s technology is built for the new norm of customer engagement – real time, two way conversations that includes social channels,” said 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.”