GigaOM calls this a "smart play" for Salesforce.com as CRM is evolving past its sales process roots to include branding, social media interactions and marketing for customers.
Venture capital investors in Buddy Media include Bay Partners, GGV Capital, Greycroft Partners, Insight Venture Partners, Institutional Venture Partners and SoftBank Capital.
Link to AllThingsD article:
LInk to the TechCrunch article: http://techcrunch.com/2012/05/29/salesforce-acquires-buddy-media/
Link to the GigaOM article: http://gigaom.com/2012/05/29/salesforce-close-to-buying-buddy-media-for-800m/