Salesforce.com (CRM) - Get Report says it has entered an agreement to buy enterprise cloud-commerce company Demandware (DWRE) for $2.8 billion and TheStreet's Jim Cramer is bullish on the combination. Demandware's shares surged more than 55 percent in early trading on news of the sale. The stock closed at $48 on Tuesday. San Francisco-based Salesforce will pay $75 a share in cash for all of Demandware's outstanding shares. The sale is expected to close in the second quarter of Saleforce's fiscal year 2017 which ends on July 31, 2016.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.