CRM vendor Salesforce.com announced that it will be acquiring social media tool developer Radian6 for $340 million, representing $276 million in cash up-front as well as $50 million in stock. $4 million in cash will also go to the founders of Radian6, subject to conditions over the next 2 years. The deal is expected to close by July 31.
Radian6 is a developer of monitoring technology that lets companies capture conversations on networks such as Facebook, Twitter, and LinkedIn and derive strategic insights based on the information. The platform also provides opportunities for companies to engage with consumers through these same services.