News Summary: buying ExactTarget buying marketing software company ExactTarget for $2.34 billion

Associated Press

THE BUYOUT: is purchasing marketing software company ExactTarget for $2.34 billion. It will pay $33.75 per share. The companies put the deal's value at approximately $2.5 billion.

CLOUD COMPATIBILITY: Both Inc. and ExactTarget Inc. use cloud technology, allowing companies to manage their digital marketing online. More than 6,000 companies use ExactTarget, including Gap Inc., Nike Inc. and Coca-Cola Co.

THE CLOSING: Both companies' boards unanimously approved the acquisition. It is expected to close by July 31.

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