News Summary: Salesforce.com buying ExactTarget
Salesforce.com buying marketing software company ExactTarget for $2.34 billion
THE BUYOUT: Salesforce.com 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 salesforce.com 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.
