Apple Gears Up for WWDC: Tech Weekly
Buddy Media, which counts Ford(F) , HP(HPQ) and L'Oreal among its customers, helps firms exploit their social media marketing with a technology platform that measures the effectiveness of their efforts and lets them test new initiatives.
The Buddy Media deal adds a key string to the Salesforce.com social media bow, according to CEO Marc Benioff.
"Salesforce.com now has the number one players in social listening and marketing - Radian6 and Buddy Media," he explained, in a statement. "With CMOs surpassing CIOs in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity."
Salesforce will pay approximately $687 million in cash and Salesforce.com equity for Buddy Media. The acquisition is expected to close during the company's fiscal third quarter.
Shares of Salesforce ended the week up 4.2% at $136.49.
The tech giant is touting the ASR 5500 as a key tool to help service providers wrestling with an explosion in Internet connections. Cisco predicts mobile Internet traffic will increase 18-fold by 2016.
Shares of Cisco gained 4.82% to close at $16.73.
LinkedIn director Vincente Silveira explained, on the company blog, that "some of the passwords that were compromised correspond to LinkedIn accounts."
Shares of Linkedin gained 5.19% during the week to close at $96.26.
Next week is a big one, as Apple's WWDC takes center stage in the tech world. I'll be out in California doing a live blog of the event. I'll also be meeting with several other technology companies and will have some exciting things to talk about when I get back. I'll be off the grid most of the week, but fear not, loyal readers, I will return.
Enjoy the weekend everyone.
Interested in more on Cisco? See TheStreet Ratings' report card for this stock .
-- Written by Chris Ciaccia in New York
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