closes $2.3B deal for ExactTarget completes $2.3B acquisition of cloud marketing platform ExactTarget

Associated Press

SAN FRANCISCO (AP) -- said Friday that it completed its $2.3 billion acquisition of cloud marketing company ExactTarget. said the addition of the company's marketing capabilities will help it create a marketing platform that ties together email, social media, mobile applications and traditional websites.

Under the terms of the deal originally announced in June, paid $33.75 per share for the company. The companies put the deal's value at about $2.5 billion. has targeted cloud marketing for acquisitions as the various forms of online advertising grow increasingly important to corporations. bought Buddy Media last year.

Founded in 2000, ExactTarget's cloud marketing platform is used by more than 6,000 companies including Coca-Cola Co., Gap Inc. and Nike Inc., said.

Shares of San Francisco-based Inc. rose 94 cents, or 2 percent, to $42.46 in morning trading.

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