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6/10, 1:13 PM (Source: TeleTrader)
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Salesforce to acquire Tableau Software for $15.7B

Cloud-based software firm Salesforce.com Inc said on Monday it signed a definitive agreement to acquire data visualization software company Tableau Software for $15.7 billion of enterprise value, in an all-stock transaction.

"We are bringing together the world’s #1 CRM with the #1 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," commented Chairman and co-CEO of Salesforce, Marc Benioff. The statement from the company noted that the transaction is expected to increase its full-year fiscal 2020 revenue by approximately $350 million to $400 million.

Salesforce shares fell 3%, while Tableau's rocketed 35% in premarket trade, as the merger agreement was announced.

Breaking the News / NI