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See the best of Reuters photography. See more | Photo caption Long live the Queen Britain gets ready to celebrate Queen Elizabeth's Diamond Jubilee. Slideshow The autistic mind Scenes from a home with two autistic children. Slideshow Salesforce adds social media muscle with Buddy Media buy Tweet Share this Email Print Related News UPDATE 3-DaVita looks to new healthcare model with $4.42 bln deal Mon, May 21 2012 Analysis & Opinion IA brief: State regulator’s deficiency letter offers clues for social-media policies Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Small Business » Money » Inflows Outflows » Media » Facebook » Mon Jun 4, 2012 10:03am EDT (Reuters) - Salesforce.com Inc will buy Buddy Media, which helps big brands manage Facebook and Twitter pages, for about $689 million, in the latest sign that the social media marketing sector may be a new battlefield for large tech companies. Salesforce's biggest ever deal follows rival Oracle Corp's acquisition of social media marketing company Vitrue. Industry website TechCrunch said the Virtue deal was for $300 million. Buddy Media, which allows customers to publish content and measure the effectiveness of social media marketing programs, serves Ford Motor Co, Hewlett-Packard Co, L'Oreal SA and Mattel Inc. The five-year-old company, co-founded by its CEO Michael Lazerow, chose Salesforce's offer over Google Inc's, the All Things Digital website reported last week. Lazerow has co-founded four other internet-based media companies. CBS Corp and Time Warner Inc have bought one each. Buddy Media's investors include global advertisement company WPP Plc, Japan's SoftBank Capital, two founders of Angel Investors LP, Zynga Inc's CEO Mark Pincus and venture capitalist Peter Thiel. Salesforce, which provides online sales management tools, said it will merge Buddy Media with its Radian6 business that helps clients track customer trends on social media sites. "While the $689 million price tag ... is not cheap, we note that it values the company roughly in line with other recent deals in the social media marketing space," Evercore Partners analyst Kirk Materne said in a research note. Materne, who has an "overweight" rating on Salesforce's stock, said the near-term hit to margins is worth the long-term benefit of building a premiere social media marketing platform. Salesforce cut its adjusted full-year profit to $1.45 to $1.49 per share, from $1.60 to $1.63 per share, to factor in charges from the deal. The company raised its revenue outlook to $2.99 billion to $3.03 billion, from $2.97 billion to $3.00 billion. The transaction is for about $467 million in cash, $184 million in stock, and $38 million invested Salesforce options and restricted stock units. The deal is expected to be completed during the third quarter, the company said in a statement. Shares of Salesforce, which closed at $130.99 on Friday on the New York Stock Exchange, fell 2 percent to $128.20 in trading before the bell on Monday. (Reporting by Sayantani Ghosh in Bangalore; Editing by Roshni Menon and Don Sebastian) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Small Business Money Inflows Outflows Media Facebook Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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