Social Media Monitoring Startup Radian6 Acquired by Saleforce For $326M
Canadian startup Radian6 has been acquired by $326 million as new broke this morning about the social media monitoring startup based in Fredericton, New Brunswick. The deal is comprised of approximately $276 million in cash and $50 million in stock, net of cash acquired. The transaction is expected to be completed in salesforce.com’s fiscal second quarter ending July 31, 2011, subject to customary closing conditions.
Radian6 was founded in 2006 Chris Newton and Chris Ramsey who serve as CTO and EVP Business Development respectfully. Radian6’s solution is able to help monitor conversations on social media networks such as Facebook, Twitter, YouTube, individual blogs.
“With Radian6, salesforce.com is gaining the technology and market leader in social media monitoring,” said Marc Benioff, Chairman and CEO, salesforce.com. “We see this as a huge opportunity. Not only will this acquisition accelerate our growth, it will extend the value of all of our offerings.”
Salesforce will look to tie in Radian6’s capabilities into its existing solutions such as Sales Cloud, Service Cloud, Chatter and Force.com.
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