Customer relationship management (CRM) company Salesforce will acquire analytics platform Tableau Software in an all-stock deal, the companies announced Monday (June 10).
In a press release, the companies said each Tableau Class A and Class B common stock will be exchanged for 1.103 shares of Salesforce common stock, representing an enterprise value of $15.7 billion (net of cash), based on the trailing three-day volume weighted average price of Salesforce’s shares as of June 7, 2019.
“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,” Salesforce Chairman and Co-CEO Marc Benioff said in the press release. “I’m thrilled to welcome Adam and his team to Salesforce.”
With the acquisition of Tableau Salesforce will play a bigger role in driving digital transformation for customers, the company said, enabling companies around the globe to tap into data and gain deeper insights to make better decisions. According to the two software providers, companies of every size and industry are engaging in a digital transformation with data at the heart of those changes. That creates a big opportunity for the combined company, result, Salesforce said. IDC, the market research firm, forecast worldwide spending on tech and services to enable digital transformation to hit $1.8 trillion by 2022.
“Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data,” Tableau President and CEO Adam Selipsky said in the same press release. “As part of the world’s #1 CRM company, Tableau’s intuitive and powerful analytics will enable millions of more people to discover actionable insights across their entire organizations. I’m delighted that 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.”
Salesforce said that once the two companies’ technology offerings are combined Salesforce will be able to cover what it says is the “most intelligent and intuitive analytics and visualization platform” for every user within an organization.