Salesforce.com has just announced that it has entered into a definitive agreement to acquire Jigsaw, which provides crowd-sourced data services in the cloud, for approximately $142 million in cash, plus a performance-based earn out of up to 10% of the purchase price.
The deal is expected to close in the second quarter of fiscal year 2011, subject to customary closing conditions.
Salesforce says the deal will allow the company to combine its suite of CRM applications and enterprise cloud platform with Jigsaw’s model for the automation of acquiring and keeping up-to-date business contact data. Jigsaw’s data cloud platform, it adds, also creates an opportunity for developers and ISVs to deliver new applications that leverage the business contact data found in Jigsaw.
Jigsaw’s community is said to consist of more than 1.2 million members. Over the last six years, community members have built and maintained a contact database of more than 21 million professionals at nearly 4 million companies, according to the press release. Jigsaw currently has 800 corporate customers.