CRM software provider Salesforce.com has acquired Canadian social media monitoring firm Radian6, in a bid to help clients track customer trends on social media sites such as Facebook and Twitter. The deal has been valued at around $326m.
Radian6 has developed a platform through which to listen to, measure and engage with customers across the entire social web. Its technology monitors hundreds of millions of conversations every day across Facebook, Twitter, YouTube, blogs and online communities. Earlier this month, the firm bought
London-based 6Consulting, which has been an official reseller for Radian6 since 2009.
Salesforce.com says the acquisition will bridge the conversations happening on public social networks and its own corporate social network, Chatter. ‘With Radian6, salesforce.com is gaining the technology and market leader in social media monitoring,’ states 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.’
Marcel LeBrun, CEO of Radian6, says the move enables his firm to grow faster to meet the demands of its rapidly expanding customer base.
The deal, which is valued at $276m in cash and $50m in stock, has been approved by Radian6’s Board of Directors and stockholders, and is expected to close at the end of July. In addition, approximately $10m in stock and $4m in cash will be issued to Radian6’s founders.
Web sites: www.salesforce.com