Done Deal: Acquires Facebook Ad-Management Provider Buddy Media

By David Cohen 

The deal by online customer-relationship-management platform to acquire Facebook and social ad-management software provider Buddy Media, initially reported last week by AllThingsD, is now official, but at a lower price than originally speculated. announced Monday that it has agreed to acquire Buddy Media for approximately $689 million in cash and equity in — approximately $467 million in cash, $184 million in common stock, and $38 million in vested options and restricted stock units. Initial reports last week had the tab at more than $800 million.

The companies said they expect the transaction to close during’s fiscal third quarter, which ends Oct. 31 also entered the bidding for Facebook and social marketing and engagement platform Vitrue, which instead went to hardware and software giant Oracle last month.

Buddy Media, meanwhile, has acquired Facebook advertising developer Brighter Option and social commerce and analytics startup Spinback over the past year.

Buddy Media Co-Founder and Chief Executive Officer Michael Lazerow said:

Buddy Media’s mission is to eliminate the current state of anarchy in social marketing. With the Salesforce Marketing Cloud, marketers will be able to unify their efforts to better organize their teams, optimize their social programs, and deliver real business results. Chairman and CEO Marc Benioff added: now has the No. 1 players in social listening and marketing — Radian6 and Buddy Media. With chief marketing officers surpassing chief information officers in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity.