Global: Salesforce Buys Buddy Media

Salesforce, cloud computing and CRM specialist has acquired Buddy Media, social media marketing platform.

Salesforce acquired Buddy for 689 million dollars, 467m in cash and 184m in common stock. The transaction is expected to be completed during's fiscal third quarter ending 31 October 2012 and is subject to closing conditions.

Buddy Media’s client base includes L’Oréal, HP, Virgin Mobile and Mattel.

“Buddy Media's mission is to eliminate the current state of anarchy in social marketing," says Buddy Media co-founder and chief executive Michael Lazerow. "With the Salesforce Marketing Cloud, marketers will be able to unify their efforts to better organize their teams, optimise their social programs and deliver real business results."