Salesforce to purchase Tableau Software in $15.7 billion deal
Salesforce.com is purchasing Tableau Software in an all-stock deal valued at $15.7 billion, the company said on Monday, a transaction that promises to bolster the cloud computing firm’s data analytics capabilities.
Shares for the San Francisco-based firm fell in pre-market trading on Wall Street on the news.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CRM | SALESFORCE INC. | 273.14 | -3.05 | -1.10% |
“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," Salesforce co-CEO Marc Benioff said in a statement.
The deal has already received approval from both of the firms’ board of directors. It is expected to be completed in the first quarter of 2019.
Salesforce estimates the acquisition will increase the fiscal year 2020 revenue by up to $400 million and decrease earnings to as much as $2.53 per share, a loss of 39 cents compared to prior estimates.
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Tableau will continue to operate independently and CEO Adam Selipsky will remain at the helm of the Seattle-based firm.