Salesforce plans to acquire Tableau
Following closely on the heels of Google’s announced $2.6 billion acquisition of Looker, Salesforce, a provider of CRM software, said that it is acquiring Tableau Software, a provider of self-service analytics and data visualization software.
Salesforce will acquire Tableau in an all-stock transaction, pursuant to which each share of 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 3-day volume weighted average price of Salesforce's shares as of June 7, 2019.
More than 86,000 organizations around the world, such as Charles Schwab, Verizon, Schneider Electric, Southwest and Netflix, rely on Tableau for analytics and data visualization.
Salesforce stated that, as part of its company, Tableau will be positioned to scale and further its mission to help people see and understand data.
Following the acquisition close, Tableau will operate independently under the Tableau brand, driving forward a continued focus on its mission, customers and community.
Tableau will remain headquartered in Seattle, Wash., and will continue to be led by CEO Adam Selipsky and the current leadership team.
The transaction has been approved by the boards of directors of both companies. Under the terms of the transaction, Salesforce will acquire all of the outstanding shares of Tableau.
The acquisition of Tableau is expected to be completed during Salesforce’s fiscal third quarter ending October 31, 2019, subject to customary closing conditions.