Salesforce Announces Acquisition Ahead of Dreamforce
Salesforce agrees to acquire Krux ahead of its Dreamforce conference.
Shares of Salesforce.com (CRM) - Get Report were higher Tuesday on word that the company agreed to acquire Krux, a privately-held marketing data startup. Under the terms of the agreement, Salesforce will pay about $700 million, of which $340 million will be in cash with the remainder in equity. The companies expect the deal to close in the fourth quarter of 2017. This comes as Salesforce's Dreamforce 2016 conference kicks off today. Bloomberg reports that new products unveiled Tuesday will blend the company's services with Quip -- the document company Salesforce purchased in August for $600 million. The event goes through October 7th.
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