Salesforce.com to Acquire ExactTarget for $2.5 Billion
On June 4, 2013, Salesforce.com, the world's No. 1 CRM platform, and ExactTarget, a leading cloud marketing platform, announced that they have entered into a definitive agreement under which Salesforce.com will acquire ExactTarget for approximately $2.5 billion. Wilson Sonsini Goodrich & Rosati is representing Salesforce.com in the transaction.
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. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close late in Salesforce.com's fiscal second quarter, which ends on July 31, 2013.
The Wilson Sonsini Goodrich & Rosati team representing Salesforce.com in the acquisition is led by Martin Korman and Michael Ringler and includes Larry Sonsini, Todd Cleary, and Kathleen Rothman for corporate and M&A; Parag Gheewala for intellectual property/technology transactions; John Aguirre and Michelle Wallin for employee compensation and benefits; Ivan Humphreys for tax; and Laura Merritt for employment law.
For more information, please see the companies' joint press release.