Salesforce has entered into a definitive agreement to acquire ExactTarget in a transaction valued at approximately $2.5 billion.
Under the terms of the agreement, Salesforce 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.
Bank of America Merrill Lynch is serving as the financial advisor to Salesforce. JP Morgan is serving as the financial advisor to ExactTarget.
[Image courtesy: ExactTarget]