Cloud based software maker Salesforce.com has completed the $326 million acquisition of social media monitoring firm Radian6.
Salesforce, which announced the deal in March, revealed that the company paid $276 million in cash and $50 million stocks to acquire Radian6. In addition to the sale price, the company’s founders received $10 million in stock and $4 million in cash.
Radian6 offers software that allows companies’ and brands to monitor what is being said about them and their products on social networks across the web. Clients are able to keep track on chatter and criticism across social networks and reply on time.
The company, founded in 2006, has 350 employees and more than 2,400 clients around the world, including the likes of Molson Coors, GE and camera maker Kodak.
The 90,000 strong customer base of Salesforce.com will help Radian6 to grow and have a wide customer reach. Salesforce is likely to use Radian6’s technology to expand its own range of CRM and other cloud based service.
In March, when the company had first announced the acquisition, Salesforce chairman and CEO Marc Benioff had said in a statement that “This is the largest and fastest-growing player in the social media monitoring space. They are the definitive technology and market leader in the social media monitoring space.”