Salesforce acquired Tableau data visualization company in the $ 15.7 billion deal - Photo 1.

Salesforce acquired Tableau data visualization company in the $ 15.7 billion stock deal

After Google bought startup Looker startup last week for $ 2.6 billion, Salesforce today announced a notable information in the plan to improve its ability to visualize data in particular and broadcast Develop tools to help businesses master the huge amount of data they regularly use and accumulate in general: the company will acquire Tableau in a fully stock deal worth $ 15.7 billion.

Tableau is a public company, and according to the agreement, Tableau's Class A and Class B shares will be exchanged for 1,103 shares of Salesforce, so the aforementioned $ 15.7 billion is the value of the business. career in the transaction, based on the average price of Salesforce shares on 7/6/2019.

This is seen as a boost to Tableau's market capitalization: the company was previously valued at $ 10.79 billion in Friday's closing session – according to Google Finance figures.

The board of the two companies approved the deal, and the management team will hold a shareholder meeting tomorrow to discuss the deal further.

For Salesforce, this is a big deal, in the context that this company is looking to diversify products, going deeper into analytical activities, instead of focusing on existing CRM software.

There are reports that Salesforce has been trying to acquire LinkedIn but failed (eventually LinkedIn fell to Microsoft), and although LinkedIn and Tableau don't have much in common, the deal is still open. Wide ability to interact with the large number of customers Salesforce currently holds.

Buying Tableau also seems to be a move that Salesforce is committed to competing with Google's acquisition of Looker, which was announced last week, although analysis is a fairly broad area that every company Well-known technology seeks to reach businesses that are focused on, to find stronger strategies (and products) in this area. It is not clear whether these two agreements are intended to compete with each other.

"We will integrate the world's No. 1 CRM with the world's No. 1 analytics platform. Tableau helps people see and understand data, while Salesforce helps people interact and understand customers. These are really the quintessence of both areas for our customers – uniting the two essential foundations that every customer needs to understand their field "- Marc Benioff, Salesforce President and CEO, said. "I am very excited to welcome Adam and his team to Salesforce ".

Tableau has about 86,000 business customers, including Charles Schwab, Verizon, Schneider Electric, Southwest and Netflix. Salesforce said that after acquiring, Tableau will operate independently under its own brand. Its headquarters are still based in Seattle, WA, under the leadership of CEO Adam Selipsky with the current leadership.

Saying so does not mean that the company will not work together: on the contrary, Salesforce once talked about the ability to expand what the company is doing with the Einstein platform (launched in 2016, Einstein is the heart. of all Salesforce AI initiatives); and with "Customer 360", which is the company's product in the field of multi-channel sales and marketing.

"Joining Salesforce will enhance our ability to help people everywhere see and understand data "- Selipsky said – "As part of the world No. 1 CRM company, Tableau's powerful and intuitive analysis will allow millions more people to see information across their organizations to take appropriate actions. I am very happy because the two companies share very similar cultures and contribute non-stop to the success of customers. I look forward to working together to support our customers and communities. "

"The great success of Salesforce has always come from predicting the needs of customers and providing them with the solutions they need to develop the company" – Keith Block, Salesforce co-CEO, said. "Data is the foundation of every digital transformation, and the addition of Tableau will enhance our customers' success by opening new perspectives on customer data. "

Reference: TechCrunch

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *