Salesforce has been on a shopping spree all year long and the company just confirmed another big purchase. Salesforce is buying Krus, a company that tracks traffic across multiple devices such as a desktop, tablet, and mobile phone and across channels, such as social, search, and video.
The company said in a statement to the SEC, that it would pay $340 million in cash plus stock and has said that the price would be “approximately $700 million.”
“Krux is a leading data management platform that unifies, segments and activates audiences to increase engagement with users, prospects and customers. Following the acquisition, Krux will be a wholly owned subsidiary of the Company,” Salesforce said in its statement.
Krux, co-founded by Tom Chavez and Vivek S. Vaidya, had already been working with Salesforce as a close partner.
“As a part of the Salesforce ecosystem, we’ve had the opportunity to work closely with the Salesforce team to create integrations that make our customers even more successful,” writes Chavez in Krux’s own announcement. “Beyond the strategic and technology fit, we believe our companies’ core values, which include innovation, trust, transparency, and most importantly customer success, are in perfect alignment and offer an exciting foundation upon which we can continue building the industry’s smartest Marketing Cloud.”
Disclaimer: We have no position in salesforce.com Inc. (NYSE: CRM) and have not been compensated for this article.