Salesforce Acquires Buddy Media for $689 Million

Buddy Media currently works with “nearly 1,000 of the world’s largest companies,” including brands such as Virgin Mobile, HP, Matte and L’Oreal.

“The idea behind the deal is simple. By combining Buddy Media with the rest of salesforce.com’s products, including Salesforce Radian6, the leading social media listening platform, we will be able to deliver the first comprehensive Marketing Cloud that will allow customers to listen, engage, gain insight, publish, advertise and measure social marketing programs,” wrote Buddy Media founder and CEO Michael Lazerow in a postcommenting on the acquisition.

It’s an interesting time for social media management platforms. Just last month, Salesforce’s rival Oracle snapped up Vitrue for $300 million. Like Buddy Media, Vitrue focuses on helping brands manage their social media presence using CRM-like tools and dashboards.

Full article

(via mashable)

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