Salesforce.com closes $2.3B deal for ExactTarget
SAN FRANCISCO (AP) — Salesforce.com said Friday that it completed its $2.3 billion acquisition of cloud marketing company ExactTarget.
Salesforce.com said the addition of the company's marketing capabilities will help it create a marketing platform that ties together email, social media, mobile applications and traditional websites.
Under the terms of the deal originally announced in June, Salesforce.com paid $33.75 per share for the company. The companies put the deal's value at about $2.5 billion.
Salesforce.com has targeted cloud marketing for acquisitions as the various forms of online advertising grow increasingly important to corporations. Salesforce.com bought Buddy Media last year.
Founded in 2000, ExactTarget's cloud marketing platform is used by more than 6,000 companies including Coca-Cola Co., Gap Inc. and Nike Inc., Salesforce.com said.
Shares of San Francisco-based Salesforce.com Inc. rose 94 cents, or 2 percent, to $42.46 in morning trading.