Tuesday, June 4, 2013

Salesforce.com Buys ExactTarget For $2.5 Billion

San Francisco-based Salesforce.com said today that it has acquired ExactTarget, in a deal worth $2.5 billion in cash. According to Salesforce.com, it will pay $33.75 per share in cash for ExactTarget, which is a developer of cloud-based email and online marketing tools. Salesforce.com said the buy would acceleratethe growth and leadership of the company in the cloud marketing market. Salesforce.com is being advised by BofA Merrill Lynch; ExactTarget is being advised by JP Morgan in the deal.