N.B. tech company sells for $326M
CBC News
Posted: Mar 30, 2011 3:10 PM AT
Last Updated: Mar 30, 2011 6:23 PM AT
Chris Ramsey is one the founders of New Brunswick company Radian6, which has been sold to San Francisco company Salesforce.com. ((CBC))
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The minister of Business New Brunswick is hoping the sale of a Fredericton tech company won't lead to jobs moving out of the province.
Radian6 has been sold to San Francisco company Salesforce.com for more than $300 million.
"My hope it is that this new company will continue to grow in New Brunswick, they will continue to create more jobs in New Brunswick, and I will be more than pleased to entertain any discussions with the new owners of this company to make sure that they will continue to create jobs in New Brunswick," said Paul Robichaud.
Radian6 was founded in 2006 and employs 300 people in Fredericton.
The company does social media monitoring for clients around the world, enabling clients to converse with customers and prospects on Facebook, Twitter and blogs.
Its clients include Dell, General Electric, Pepsi and Molson.
Radian6 just made an acquisition of its own earlier this month, grabbing 6Consulting — one of its resellers — to establish a presence in the UK.
Salesforce.com acquired Radian6 for about $276 million in cash and $50 million in stock. Approximately $10 million in stock and $4 million in cash will be issued to founders Chris Newton and Chris Ramsey.
The transaction is expected to be completed at the end of July.
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