Salesforce to Acquire Buddy Media
Enterprise cloud computing company Salesforce is set to acquire Buddy Media, the makers fo social enterprise software. The purchase would augment Salesforce’s enterprise offerings with a ready-made solution for social media brand management.
The news was first reported by All Things D, which cites unnamed sources as saying the two companies have agreed to terms of the sale, though the purchase is not yet final. Buddy Media will be bought for more than $800 million, a bid by Salesforce that evidently beat out a lower one by Google.
Salesforce is an enterprise cloud computing company whose mission is “the end of software.” To that end, the company provides numerous cloud solutions for businesses, including Sales Cloud sales force automation, Service Cloud customer service support, and Radian6 social media monitoring, which Salesforce acquired las year. The company is beating earnings estimates and rising in prominence as one of the top cloud solutions companies in the U.S. It has also recently updated its Chatter cloud collaboration service to include real-time messaging.
Buddy Media specializes in Facebook advertising. It manages a brand’s total social media presence on Facebook, maintaining pages, app, ads, and offers. The company also manages brand image on other social networks such as Twitter and Google +. Buddy Media claims to have eight of the top ten global advertisers as clients. Earlier this year Buddy Media appointed a new president to the company, Susan St. Ledger.
With Facebook now public and desperately trying to raise revenue forecasts, it makes sense that Buddy Media would be a hot commodity. With this acquisition, Salesforce is positioning itself to be the middleman between advertisers and Facebook. And with both Radian6 and Buddy Media, Salesforce is now the go-to solutions company for social media advertising.
(via All Things D)