Salesforce is set to buy data visualization company Tableau

Salesforce.com Inc., which makes America’s dominant sales-tracking software, agreed to buy Tableau Software Inc. in an all-stock deal valued at $15.3 billion that it said will help give customers more ways to analyze data. The takeover will mark Salesforce’s largest deal to date, according to data compiled by Bloomberg. Co-Chief Executive Officers Marc Benioff and Keith Block have been chasing new markets to reach an annual revenue goal of as much as $28 billion by fiscal 2023. Benioff has helped Salesforce increase revenue at a rapid clip by acquiring more than 60 companies in 20 years. “Tableau helps people see and understand data, and Salesforce helps people engage and understand customers,” Benioff said in a statement Monday. “It’s truly the best of both worlds for our customers.” Tableau will remain headquartered in Seattle and will continue to be led by CEO Adam Selipsky, a former Amazon.com Inc. executive who has been transitioning Tableau’s software tools to cloud-based subscriptions. With Tableau, Salesforce will be able to help companies tap into data they have, make smarter decisions and boost innovation. IDC projects worldwide spending on technologies and services that enable digital transformation to reach almost $2 trillion in 2022, according to the statement. Tableau software quickly turns raw data into easily understandable dashboards and charts. The company has been broadening its product line to include data cleanup and machine learning tools,... Continue reading at 'Advertising Age'

[ Advertising Age | 2019-06-10 16:51:13 UTC ]
News tagged with: #product line #common stock #early trading #goldman sachs #—bloomberg news

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