Cloud Computing: Salesforce To Splash $2.5bn On ExactTarget
June 4, 2013
Grazed from TechWeekEurope. Author: Tom Brewster.
Salesforce is again set to splash out to boost its marketing prowess, chucking a whopping $2.5 billion (£1.6bn) on rival cloud-based service ExactTarget. A Software-as-a-Service (SaaS) company like Salesforce, ExactTarget was founded back in 2000. It has scored some top customers over the last 13 years, including Coca-Cola and Nike, helping run their digital marketing.
Salesforce, which is still a loss making firm despite its strong revenue growth, has agreed to pay $33.75 per share in cash for ExactTarget – a 53 percent premium above the company’s $22.10 closing price on Monday…
Salesforce, a big spender
It’s the most costly acquisition Salesforce has made to date, but the cloud company remains confident it will soon become a $1 billion a quarter company, in terms of revenue. ExactTarget lets marketers “integrate customer data from any source to power digital marketing campaigns”, whilst automating many processes…
Read more from the source @ http://www.techweekeurope.co.uk/news/salesforce-to-splash-2-5bn-on-exacttarget-118154