Cloud Computing Leader, Salesforce is buying the Email Marketing Giant ExactTarget
SAN FRANCISCO and INDIANAPOLIS – Last Tuesday 11th June 2013 – Salesforce.com, the Cloud computing Leader and world’s #1 CRM platform has agreed to buy Exact Target, marketing software services provider, for about $2.5 billion. Under the terms of the agreement, salesforce.com will commence a tender offer for all outstanding shares of ExactTarget for $33.75 per share, in cash. This has already been approved by the Boards of Directors of both companies. The buyout announced on 11th June’13 is expected to close by 31st July’13.
This acquisition will lead to Salesforce’s mission of being the world’s leading CRM platform that empowers its clients to transform their CRM platform in the way they want to connect with their customers and at any stage – whether its sales, service, or marketing. Salesforce.com, with combination to ExactTarget’s leading digital marketing capabilities, will be able to create a world-class marketing platform across email, social, mobile and the web.
Below are some responses of people related to this acquisition:
“The chief marketing officer is expected to spend more on technology than the chief information officer by 2017, the addition of ExactTarget makes Salesforce the starting place for every company and puts Salesforce in the pole position to capture this opportunity.” Marc Benioff, Chairman and CEO, Salesforce
“I feel so excited and have great admiration for Marc. In many ways we modeled ourselves after Salesforce and we built our business on it.” Scott Dorsey, Co-founder and CEO, ExactTarget
“Salesforce-ExactTarget Combo should not affect Marketo. Marketo is leading digital marketing while Salesforce.com is buying ‘commodity’ capabilities with its $2.5 billion ExactTarget deal.” Phil Fernandez, CEO, Marketo.
Phil characterizes ExactTarget as a leader in email delivery, a market that is now “getting commoditized,” with prices falling from about $2 per thousand messages to 25 cents per thousand messages in recent years.
Salesforce is the world’s largest provider of customer relationship management (CRM) software and the enterprise cloud computing leader. Salesforce’s social and mobile cloud technologies—including their flagship sales and CRM applications—help companies connect with customers, partners, and employees in entirely new ways.
ExactTarget is a leading global provider of cross-channel digital marketing software-as-a-service solutions that empower organizations of all sizes to communicate with their customers through email, mobile, social media, web and marketing automation.
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