Salesforce, the world’s leading CRM company that itself was once a high flying startup, has acquired another ex-startup, Tableau Software, for $15.7 billion. It’s Salesforce’s largest acquisition in its history.
The acquisition will team the data leader with the top analytics platform to supercharge customer’s digital transformations. A number of tech startups as well as other businesses depend on accessible data and management of that data for growth.
The deal is an all-stock transaction, pursuant to which each share of Tableau Class A and Class B common stock, which will be exchanged for 1.103 shares of Salesforce common stock, worth $15.7 billion, based on the trailing 3-day volume weighted average price of the CRM company’s shares as of June 7, 2019, according to Salesforce.
“We are bringing together the world’s #1 CRM with the #1 analytics platform,” said Marc Benioff, Chairman and CEO of Salesforce, in a statement. “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.”
Tableau’s self service analytics platform is in use at 86,000 companies around the world, including Verizon, Southwest Airlines, Netflix and Charles Schawb.
After the acquisition closes, Tableau will operate independently under the Tableau brand. Tableau will remain headquartered in Seattle, Wash. and will continue to be led by CEO Adam Selipsky and the current leadership team.
“Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data,” said Selipsky, who’s also President in addition to CEO at Tableau. “As part of the world’s #1 CRM company, Tableau’s intuitive and powerful analytics will enable millions 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.”
Bank of America Merrill Lynch serves as financial advisor to Salesforce, while Goldman Sachs is the financial advisor to Tableau. The boards of both companies have approved the transaction.