Cloud software giant, Salesforce has just acquired Tableau Software, a data analytics platform.
Salesforce disclosed in a statement that the deal is a $15.7 billion agreement.
The acquisition is an all-stock transaction where each share of Tableau Class A and Class B common stock will be exchanged for 1.103 shares of Salesforce common stock.
This will then represent 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 7, 2019.
Marc Benioff, Chairman and co-CEO, Salesforce said that: “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.”
The acquisition will further strengthen Salesforce data analytics offerings in a market where stiff competition has seen many players.
The announcement is coming a few days after Google acquired Looker, another cloud-based data analytics company to bolster its offerings in the cloud business.