Salesforce, the cloud computing company, has acquired Radian6, the social media monitoring platform, for $326m.
The acquisition of Radian6 cost approximately $276m in cash and $50m in stock, and is expected to be completed at the end of July. Salesforce claims the acquisition will be used to develop its business cloud computing integration with social media, and enhance its social intelligence software.
Radian6, launched in 2006 by Chris Newton and Chris Ramsey, offers social media monitoring software to help businesses engage in conversations across the social web and is used by more than half of America’s FORTUNE 100 companies.
Marc Benioff, chairman and chief executive of Salesforce said: “Radian6 adds huge value to Salesforce by delivering the public, social web across all our products, giving customers the social intelligence they want with the business context they need will further differentiate our products and accelerate our growth.”
The deal marks the latest in a line of acquisitions by Salesforce, which purchased Heroku, the cloud communications platform provider, at the end of last year, and cloud communications company DimDim at the start of this year.