Salesforce.com is acquiring additional capability of Listening and Social Analytics to build on top of Social CRM.
Salesforce.com [NYSE: CRM], the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today announced it has entered into a definitive agreement to acquire Radian6, the industry-leading social media monitoring platform, for approximately $276 million in cash and $50 million in stock, net of cash acquired. The transaction is expected to be completed in salesforce.com’s fiscal second quarter ending July 31, 2011, subject to customary closing conditions.
With this acquisition, Salesforce is doubling-down its business strategy to boost the “S” in the socialization of CRM (sCRM) and help businesses integrate the social customer into its customer relationship management methodologies. The social customer is forcing businesses to adapt processes and systems as their behavior as well as their needs and expectations are evolving along with their use of social networks such as Twitter, Facebook, YouTube, Blogs, et al.
Consolidation is in the air. With this Salesforce/Radian6 deal, Lithium’s acquisition of ScoutLabs and MarketWire picking up Sysomos, we can expect to see businesses place greater importance on the social customer outside of marketing and communications. As my colleague at Altimeter Jeremiah Owyang observed in a recent report, almost 50% of social media programs live inside of marketing today. In order for a business to become a social business, it requires the creation of bridges between business functions and social customers and bridges between existing silos.