Reuters: Mergers News: UPDATE 1-Salesforce to buy Buddy Media for $689 mln

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Salesforce to buy Buddy Media for $689 mln Jun 4th 2012, 10:41 Mon Jun 4, 2012 6:41am EDT * To pay $467 mln in cash, $184 mln in stock * Deal includes $38 mln in options, restricted stock units * Cuts FY13 adjusted EPS outlook by $0.14-$0.15 per share * Deal to close in Q3 June 4 (Reuters) - Web-based software maker Salesforce.com Inc said it will buy social media marketing company Buddy Media for about $689 million in cash and stock, and cut its full-year earnings per share forecast as a result of the deal. Buddy Media, which allows customers to publish content and measure the effectiveness of social media marketing programs, counts Ford Motor Co, Hewlett-Packard Co, L'Oreal SA and Mattel Inc among its customers. The transaction includes about $467 million in cash, $184 million in stock, and $38 million in vested Salesforce options and restricted stock units. Salesforce now expects an adjusted full-year profit of $1.45 to $1.49 per share, excluding items, down from its earlier forecast of $1.60 to $1.63 per share. The company raised its revenue outlook range to about $2.99 billion to $3.03 billion, from $2.97 billion to $3.00 billion. The deal is expected to be completed during the third quarter, the company said in a statement. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions