Salesforce to Acquire California Company
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe parent of Indianapolis-based Salesforce Marketing Cloud has entered into a definitive agreement to acquire San Francisco-based data management technology company Krux Digital Inc. Salesforce.com Inc. (NYSE: CRM) will pay $340 million in cash, plus stock considerations as part of the transaction, according to a regulatory filing.
Neither company has said whether the deal will affect any jobs. Tom Chavez, co-founder and chief executive officer of Krux, says his company will work with Salesforce Marketing Cloud to extend its audience segmentation and targeting capabilities.
"Becoming part of Salesforce is great news for our current and future clients, our partner network and our employees," said Chavez. "Being part of Salesforce gives us the opportunity to pursue our mission of driving more relevant and valuable consumer experiences by putting people data to work, with greater reach and impact than ever before."
Salesforce expects the acquisition to close in the company’s fiscal fourth quarter, which ends on January 31, 2017.
