Salesforce is Buying Analytics Platform Tableau for $15 Billion
In an all stock transaction, software company Salesforce has agreed to purchase analytics platform Tableau for $15.33 billion.
The company will acquire each share of Tableau Class A and Class B stock in exchange for 1.103 shares of Salesforce stock. According to Bloomberg data, Tableau has 75.8m Class A shares and 10.4m Class B shares.
The deal represents an enterprise value of $15.7 billion net of cash based on the trailing 3-day volume weighted average price of Salesforce’s shares as of June 7th.
“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,” said Marc Benioff, Chairman and co-CEO, Salesforce. “I’m thrilled to welcome Adam and his team to Salesforce,” he added.
“Salesforce’s incredible success has always been based on anticipating the needs of our customers and providing them the solutions they need to grow their businesses,” said Keith Block, co-CEO, Salesforce. “Data is the foundation of every digital transformation, and the addition of Tableau will accelerate our ability to deliver customer success by enabling a truly unified and powerful view across all of a customer’s data.”
“Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data,” said Adam Selipsky, President and CEO of 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.”
Disclaimer: We have no position in salesforce.com, inc. (NYSE: CRM) nor Tableau Software Inc Class A (NYSE: DATA) and have not been compensated for this article.