Boston, MA 06/05/2013 (wallstreetpr) – The share prices of ExactTarget Inc. (NYSE:ET) had surged by more than 50 percent after the announcement of acquisition of the company by salesforce.com in a $2.5 billion deal. The share prices of ExactTarget Inc. (NYSE:ET) had surged by 52.44 percent to close at $33.69 per share for the end of last trading session on Tuesday. This recent surge in share prices owing to the acquisition deal had led the company to hi new peaks with $33.74 per share as the 52 week high price level. The 52 week low price level of the company is at $17.25 per share.
Acquisition by Salesforce.com
The shares of ExactTarget Inc. (NYSE:ET) had been trading in the range of $33.66 to $33.74 per share during the day before closing at $11.59 per share higher than the previous closing price on Friday. Salesforce.com Inc had won the bid to acquire the marketing software maker ExactTarget Inc. (NYSE:ET)for $2.5 billion and to pay the shareholders $33.75 per share which was observed to be 53 percent premium over the closing price of shares of ExactTarget Inc. (NYSE:ET) on Monday.
ExactTarget Inc. (NYSE:ET) is involved in providing internet based marketing software for the businesses which enables them to personalize email and text messages and also used to run advertisement campaigns on social media websites. The company presently holds 69.28 million shares outstanding in the market and the institutional ownership is at 86 percent of its holdings. The average trading volume of ExactTarget Inc. (NYSE:ET) is 566,382 shares per day which surged to 34.10 million shares on Tuesday.
