Tableau Software Inc (NYSE:DATA) geared up for a strong start to the trading week, after Salesforce (NYSE:CRM) signed an agreement to acquire Tableau for $15.7 billion in stock.
The San Francisco-based Salesforce, which purports to be the global leader in CRM, and the Seattle-based Tableau, the leading analytics platform, have entered into a definitive agreement under which Salesforce will acquire Tableau in an all-stock transaction, pursuant to which each share of Tableau Class A and Class B common stock will be exchanged for 1.103 shares of Salesforce common stock, again, representing an enterprise value of $15.7 billion (net of cash), based on the trailing three-day volume weighted average price of Salesforce's shares as of June 7.
Said Tableau CEO Adam Selipsky, "I'm delighted that our companies share very similar cultures and a relentless focus on customer success. I look forward to working together in support of our customers and communities."
With Tableau, read Monday’s news release, Salesforce will play an even greater role in driving digital transformation, enabling companies around the world to tap into data across their entire business and surface deeper insights to make smarter decisions, drive intelligent, connected customer experiences and accelerate innovation.
As part of Salesforce, Tableau will be positioned to scale and further its mission to help people see and understand data. Following the acquisition close, Tableau will operate independently under the Tableau brand, driving forward a continued focus on its mission, customers and community.
As part of the world's number-one CRM company, Tableau will remain headquartered in Seattle. and will continue to be led by Selipsky and the current leadership team.
Shares in Tableau climbed $46.69, or 37.2%, to $172.18, while shares in Salesforce backtracked $4.55, or 2.8%, to $156.67 early Monday morning.
