Salesforce.com has purchased cloud marketing platform ExactTarget in a deal worth $2.5bn (£1.6bn) as it looks to adapt to a world in which mobile devices and social networks are increasingly used.
The agreement - approved unanimously by both boards of directors - makes it Salesforce.com's biggest acquisition ever, with the offer of $33.75 (£22.07) per share representing a 53 per cent rise in ExactTarget's stock price at the close of trading on Monday.
Used by more than 6,000 companies, including Coca-Cola, Gap and Nike, to manage digital marketing, ExactTarget represents the eighth acquisition by Salesforce within a year.
"Customers will be able to extend their investments in sales, service and social marketing with access to the industry's most comprehensive marketing automation solution," said a Salesforce.com statement on the deal.
"ExactTarget's large and vibrant customer base will have access to new social marketing capabilities, and will be able to leverage Salesforce.com's leading sales, service and platform solutions to transform their end-to-end customer experience," it added.
The deal is expected to close during this financial quarter, before the end of July.
Salesforce.com recently announced plans to open a new UK data centre in order to support European growth.