Additionally, approximately $10M in stock and $4M in cash will be issued to founders and will be subject to vesting conditions over two years. The acquisition has been approved by Radian6′s board of directors and stockholders and is expected to close by July 31, 2011, subject to customary closing conditions.
“With Radian6, salesforce.com is gaining the technology and market leader in social media monitoring,” chairman and CEO of Salesforce Marc Benioff said in the company's announcement.
This is a second large acquisition in recent months by Salesforce, which has acquired Ruby cloud platform Heroku for $212 million in December 2010. That same month, Salesforce also acquired contact management startup Etacts for an undisclosed amount.
Social media management and monitoring space has been the center of several large investments and acquisitions lately. In February 2011, Vitrue secured $17 million in funding, while Buddy Media raised $23 million in October 2010.
More About: acquisition, cloud computing, radian6, Salesforce, social media, social media monitoring
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