Salesforce is splashing the cash – a cool $15.7bn (£12.4bn) to be precise – to acquire “newish kid on the block” Tableau Software in a move which will give the CRM giant a springboard into the analytics market.
The all-stock deal values Tableau at nearly one and half times its current market cap – it was valued at $10.79bn at close of trading on Friday – and has been seen as part of Salesforce’s strategy to diversify beyond CRM software and into deeper layers of analytics.
Founded in January 2003 at Stanford University, Tableau has been one of the fastest growing companies of modern times, due to the demand for its graph-type data visualisations. It set up its European HQ in Richmond, Surrey, in 2011 and worldwide has about 86,000 business customers in 150 countries, including Netflix, Charles Schwab, and Verizon.
Salesforce said Tableau will continue to operate independently and under its own brand once the deal is finalised. It will also remain headquartered in Seattle, headed by CEO Adam Selipsky, along with the current leadership team.
Salesforce chairman and co-CEO Marc Benioff said: “We are bringing together the world’s number one CRM with the number one analytics platform. Tableau helps people see and understand data, and Salesforce helps people engage and understand customers.
“It’s truly the best of both worlds for our customers – bringing together two critical platforms that every customer needs to understand their world. I’m thrilled to welcome Adam and his team to Salesforce.”
Selipsky added: “Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data. As part of the the number one CRM company, Tableau’s intuitive and powerful analytics will enable millions more people to discover actionable insights across their entire organisations. Our companies share very similar cultures and a relentless focus on customer success. I look forward to working together in support of our customers and communities.”
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