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Internet closes deal for Buddy Media

The $689 million acquisition of the social media marketing platform is expected to bolster Salesforce's Marketing Cloud effort. has completed its $689 million acquisition of social media marketing platform Buddy Media, the company said today.

The acquisition, which was announced in June, was rooted in the social synergy between the two companies. The companies have said that the addition of Buddy Media's service will vastly improve Radian 6, a "social media listening platform."

" now has the No. 1 players in social listening and marketing -- Radian6 and Buddy Media," CEO Marc Benioff said in a statement. "With the rapid growth in technology spending by [chief marketing officers] projected over the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity."

Salesforce boasts more than 100,000 customers that utilize its cloud computing services. Adding a social media element, could help bolster its core business management services.

"Buddy Media's mission is to eliminate the current state of anarchy in social marketing," Buddy Media CEO Michael Lazerow said in a statement. "With the Salesforce Marketing Cloud, marketers will be able to unify their efforts to better organize their teams, optimize their social programs and deliver real business results."

Founded in 2007, Buddy Media is best known for helping big brands navigate Facebook. Recently, it has expanded to other social media platforms like Twitter, LinkedIn and Google+.