Enterprise cloud computing company SalesForce.com has acquired Radian6, a social media monitoring platform.
Completed today, SalesForce.com made the purchase for roughly US$276 million in cash and US$50 million in stock, net of cash acquired.
Founded in 2006, Fredericton, N.B.-based Radian6 has more than 350 employees. It serves 2,400 customers from its New Brunswick and Nova Scotia offices.
SalesForce.com is based in San Francisco and, with the acquisition, now has more than 5,000 employees.
The Business Development Bank of Canada (BDC) invested in Radian6 in a first institutional round of financing in 2008 as a syndicate partner. Other investors included BrightSpark Ventures and Summerhill Venture Partners.
BDC interim executive vice-president, investments Jérôme Nycz said in a release that BDC is pleased with its ROI on Radian6 and called it one of the most profitable BDC Venture Capital has recorded.
