This acquisition will further Salesforce.com's mission to be a world-leading CRM platform by combining ExactTarget's digital marketing capabilities with Salesforce.com's sales, service, and social marketing solutions.
Under the terms of the agreement, Salesforce.com will commence a tender offer for all outstanding shares of ExactTarget for $33.75 per share, in cash.
This acquisition marks the biggest ever for Salesforce.com and its eighth in the past year. It also marks an emphasis on social media, as it is the second biggest social purchase, following Salesforce.com's acquisition of Buddy Media last August.
Indianapolis-based ExactTarget develops online marketing software, used by businesses such as Coca-Cola Co., Gap Inc., and Nike Inc., to personalize email and to run social media ad campaigns.