The $15.7 billion, all-stock transaction was heralded by the CEOs of both firms as a match made in heaven as Salesforce deepens its reach into data analytics. Salesforce shares were down 4.7% on the news, while shares of Tableau surged 34.6%.
"It's hard to get the stars to align; we were fortunate that we got there," said Salesforce co-CEO Marc Benioff on a call with investors on Monday morning, in response to a question about why now was the right time to seal the deal. "When I talk to some of our largest customers, we're talking about Salesforce, then they start talking about how they're using Tableau. [I thought] wow, if this was more deeply integrated as one movement, we could satisfy a great customer need."
Here are three takeaways from Salesforce's investor call today discussing the purchase of Tableau, a company that Benioff dubbed a "brother from another mother."
1. Think Mulesoft
Benioff and Salesforce's chief product officer, Bret Taylor, likened the acquisition to that of Mulesoft, which Salesforce bought in 2018 in a deal worth about $6.5 billion. The executives pointed out that much like Mulesoft, Tableau's software draws data from multiple sources: Amazon (AMZN - Get Report) , Microsoft (MSFT - Get Report) , Workday (WDAY - Get Report) and ServiceNow (NOW - Get Report) , among others. Benioff said that Salesforce doesn't get "draconian" in cutting off such data pipelines: "We always maintain a beginners mind...we've not only maintained the Mulesoft acquisition, we've added to it."