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IBM to acquire Silverpop digital marketing software provider

BY Staff Writer

Armonk, N.Y. — IBM Corp. announced it will acquire digital marketing technology provider Silverpop. The Atlanta-based Silverpop allows marketers to target highly personalized offers and promotions. IBM said the technology will enhance its enterprise marketing capabilities.

Financial terms of the deal were not disclosed.

Using Silverpop software and services, marketers monitor customer behavior — such as whether a customer commented on a company blog post, viewed a marketing video or talked about the business on Twitter. That data can help fine-tune the messaging.

"The acquisition of Silverpop turbocharges IBM’s ability to put the customer at the center of any organization," said Craig Hayman, general manager, industry cloud solutions, IBM. "Now, nearly any marketing, commerce or customer service professional from any business will have the ability to deliver the kinds of personalized customer experiences that make a measurable impact on the brand experience and the bottom line."

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Zynga names former Best Buy exec as CFO

BY Staff Writer

San Francisco — Zynga Inc. named former Best Buy executive David Lee as CFO, effective April 14, as the online games company and creator of “Farmville” seeks to return to growth. He will replace current CFO Mark Vranesh who has decided to leave the company.

Lee was previously the senior VP of corporate finance, treasury, mergers and acquisitions and corporate strategy at Best Buy.

Vranesh, who joined Zynga in 2008, has held roles of chief financial officer and chief accounting officer. He will work with Lee over the next month before leaving the company.

To regain its financial footing, Zynga has set in motion a turnaround plan, which includes expanded cost savings, led by CEO Don Mattrick.

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Bed, Bath & Beyond earnings fall during Q4

BY Dan Berthiaume

Union, N.J. – Bed, Bath & Beyond met Wall Street expectations with falling net earnings during the fourth quarter of fiscal 2013. Compared to the same period a year earlier, net earnings dropped 11% to $333.3 million, from $373.87 million.

Net sales fell 6% to $3.2 billion, from $3.4 billion. In one bright spot, same-store sales rose 1.7%. Bed, Bath & Beyond attributed some of its net earnings decline to disruptive weather in the fourth quarter.

During the fiscal year, net earnings fell 2% to $1.02 billion, from $1.04 billion, although net sales rose 5.5% to $11.5 billion, from $10.9 billion. Same-store sales increased 2.4%.

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