Salesforce has acquired marketing data software company Krux for $700 million, according to the Wall Street Journal.
Salesforce disclosed in a regulatory filing that it’s paying $340 million in cash for the company.
Founded in 2010, Krux is a marketing software company that specialises in data analysis and intelligence. Marketers use Krux’s software to better target customers. The company has raised $50 million so far.
Salesforce has been putting a lot of focus on boosting its data and predictive analytic capabilities lately, and Krux’s software is expected to help Salesforce’s marketing cloud offerings.
Krux is the latest in a series of companies Salesforce has bought over the past year. Salesforce has spent nearly $4 billion on acquiring companies like Demandware, Quip, and BeyondCore over the past 12 months, as well as making a failed bid to buy LinkedIn for over $26 billion (Microsoft walked away with the prize). Salesforce is also rumoured to be interested in buying Twitter, a company with a $17 billion market cap.
Salesforce CEO Marc Benioff hinted during his most recent earnings call that he won’t stop his record-high acquisition spree anytime soon, and would most likely keep it up through the end of the year.
“This M&A window, I talked about that I think on the last call, openly in the press, seems to have opened for the year,” he said. “I think it will probably close, probably at the end of this calendar year. But it’s been incredible time for us to acquire some phenomenal assets.”
Perhaps we’ll get to learn more about the deal this week at Dreamforce, Salesforce’s big annual conference.
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