Salesforce.com Completes Acquisition of Radian6 Technologies

Posted by TechNews

salesforce.com, inc. (NYSE: CRM) on May 2, 2011 through its wholly owned subsidiary, salesforce.com Canada Corporation, closed its previously announced acquisition of Radian6 Technologies Inc.

In consideration, salesforce.com paid proximately US $350 million in cash and shares of its common stock (80% to 20% ratio). Approximately US $14 million of the purchase price payable to Radian6 founders in the form of cash and shares of common stock will be subject to vesting conditions over two years. The purchase price for vested Radian6 stock options will be paid in cash.

LaBarge Weinstein Professional Corporation acted as legal counsel to Radian6.  McCarthy Tétrault LLP provided legal service to salesforce.com.

Radian6 is the leading social media monitoring, engagement and insights platform with over 2,400 customers including Dell, Kodak, PepsiCo, and UPS, as well as public relations and marketing agencies. Radian6’s unique technology monitors hundreds of millions of conversations every day across Facebook, Twitter, YouTube, blogs and online communities, delivering insights in real-time.

Radian6 Technologies was backed by BCE Capital Inc./Summerhill Venture Partners, Brightspark Ventures, BDC Venture Capital, and New Brunswick Innovation Foundation.

Founded in 2006 by Chris Newton and Chris Ramsey, Radian6 has over 120 employees (as of June 2010) with offices in Halifax, New York, Boston, Chicago, Dallas, Boulder, Seattle, and Orange County.

San Francisco, California based salesforce.com is a leading provider of enterprise cloud computing applications.  It provides a comprehensive customer and collaboration relationship management (CRM) service to businesses of all sizes and industries worldwide. The company also provide a technology platform for customers and developers to build and run their business applications.