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Salesforce, a maker of customer-management software, is buying Tableau Software in an all-stock deal valued at $15.7 billion. "Tableau helps people see and understand data, and Salesforce helps people engage and understand customers".
The two companies announced the deal Monday morning under which Salesforce will acquire publicly held Tableau in an all-stock transaction.
The news comes less than a week after Google acquired Looker for $2.6 billion, in efforts to extend its business intelligence and analytics reach. Tableau's software portfolio includes the Tableau Desktop and Tableau Online business analytics and data visualization tools for users, Tableau Server and the recently released Tableau Prep data preparation toolset.
"We are bringing together the world's No. 1 CRM with the No. 1 analytics platform", said Salesforce chairman and co-CEO Marc Benioff in a statement announcing the deal.
With Tableau, Salesforce will be able to help companies tap into data they have, make smarter decisions and boost innovation.
"Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data", Tableau president and CEO Adam Selipsky said in the statement.
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The purchase will merge Salesforce's community of 1.4 million and Tableau's community of 1 million. "I'm delighted that our companies share very similar cultures and a relentless focus on customer success".
The acquisition will merge the top CRM and analytics platform to help speed customer digital transformations.
Forrester analyst Boris Evelson said it's become harder for independent business intelligence vendors such as Tableau to remain profitable on their own because the market has matured and bigger companies such as Microsoft can offer lower prices as part of a package.
Tableau's price tag makes it considerably more expensive than Salesforce's last mega-acquisition of Mulesoft for $6.5 billion in March 2018. However, FY20 non-GAAP diluted earnings per share (EPS) is expected to decrease to $0.39. IDC projects worldwide spending on technologies and services that enable digital transformation to reach nearly $2 trillion in 2022, according to a statement from the companies Monday.
The deal is expected to close during Salesforce's fiscal third quarter ending October 31.
The transaction has been approved by both the Salesforce and Tableau board of directors.