Salesforce.com buying ExactTarget for $2.34B

Jun 04, 2013

Salesforce.com will spend more than $2.3 billion to buy marketing software company ExactTarget.

.com —which provides software for over the Internet—will pay $33.75 per share. That's a 53 percent premium to ExactTarget's Monday closing price of $22.10. The companies put the deal's value at approximately $2.5 billion.

ExactTarget Inc. has about 69.3 million outstanding shares, according to FactSet. The Indianapolis company's stock jumped 52.5 percent in Tuesday premarket trading.

More than 6,000 companies use ExactTarget to manage their , including Coca-Cola Co., Gap Inc. and Nike Inc.

The buyout was approved unanimously by the boards of both companies and is expected to close by July 31.

Salesforce.com Inc. is based in San Francisco. Its stock rose more than 3 percent before the market opened.

Explore further: Winners and losers of the demise of the big Comcast deal

Related Stories

Thermo Fisher to buy Life Technologies for $13.6B (Update)

Apr 15, 2013

Thermo Fisher Scientific Inc. has offered to pay about $13.6 billion to buy genetic testing equipment maker Life Technologies in a cash deal that will create a giant company serving research and specialty diagnostics.

Recommended for you

How smart are the mobile shoppers who use smartphones?

22 hours ago

In the age of the smart phone, how smart are the mobile shoppers who use these almost ubiquitous devices? A study from South Korea published in the International Journal of Mobile Communications hopes to answer that questi ...

India's Infosys gives muted earnings, stock falls

23 hours ago

Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.