Salesforce buys Tableau for $15.7bn

Salesforce acquires Tableau Software in $15.7 billion deal

Salesforce to Acquire Tableau, for $15.7 Billion

"Tableau helps people see and understand data, and Salesforce helps people engage and understand customers", Salesforce Chairman Marc Benioff said in announcing the deal.

Salesforce co-CEO Marc Benioff, left, and the company's chief technology officer, Parker Harris, look on during a keynote address at Salesforce's 2013 Dreamforce conference in San Francisco on November 19, 2013.

Tableau provides an analytics platform that allows people of any skill level to work with data.

"Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data", reiterated Adam Selipsky, president and CEO of Tableau. In its last fiscal year ending January 31, Salesforce earned $1.43 per share on $13.28 billion in revenue. The acquisition brings "together two critical platforms that every customer needs to understand their world".

While the companies were quick to highlight the possibilities for customer experience management and business decision making by uniting Tableau with Salesforce's artificial intelligence (AI) engine, Einstein, Tableau will remain an independent operation under its own brand, and stays headquartered in Seattle, Washington. It is used by over 86,000 organizations globally, including Verizon and Netflix.

In a statement, Salesforce said Einstein and Tableau together "will deliver the most intelligent and intuitive analytics and visualization platform for every department and every user at any company". The all-stock deal is the company's latest move to ramp up its data visualization tools and to diversify its offerings for its customers.

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The acquisition follows Google's purchase of the analytics startup Looker for $2.6 billion last week and shows that the industry is willing to pay huge sums for effective data analytics.

"I'm delighted that our companies share similar cultures and a relentless focus on customer success", Selipsky said. Bank of America reissued a "buy" rating and issued a $160.00 price target (up previously from $152.00) on shares of Tableau Software in a research note on Friday, May 3rd. Trading was halted last week following news of the company's acquisition.

Salesforce has more than 1,100 staff in Ireland, where its operations had turnover a year ago of €971m.

Google said the acquisition would strengthen its data game, and give customers a more consistent way to define business metrics, with the company planning on adding Looker's services to its Google Cloud portfolio.

The takeover will mark Salesforce's largest deal to date, according to data compiled by Bloomberg.

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