Salesforce today announced that it has entered in an agreement to acquire the digital marketing firm ExactTarget in a transaction valued at approximately $2.5 billion. Under the terms of agreement, the CRM platform company will commence a tender offer for all outstanding shares of ExactTarget for price of $33.75 per share in cash. Also, the transaction has been approved by the Boards of Directors of both companies.
“This is a really historic day for cloud computing. We are just thrilled,” said Salesforce chairman and CEO Marc Benioff speaking on a conference call to announce the deal. “We also need to work even harder to be number one at marketing. Marketing is rapidly evolving…there’s no doubt our whole industry is changing.”
The acquisition is all cash and is expected to close before July 31, 2013.