Salesforce.com, Inc. (NYSE:CRM) is acquiring Ruby platform-as-a-service company Heroku for $212 million in cash. Heroku was founded in 2007 and raised a total of $13 million in funding. Heroku received seed funding from Y Combinator in 2008.
Heroku powers about 105,000 social and mobile cloud applications. Salesforce.com will use Heroku to continue providing support for the next generation of Java and Ruby application developers.
On top of the $212 million in cash, Salesforce.com will offer shares of restricted stock and restricted stock units valued at $27 million to Heroku employees. They are also committing to pay about $10 million in cash for unvested Heroku shares. The deal is expected to close in Q4 of 2011.