Salesforce have agreed to buy Tableau Software for $15.7 billion in an all-stock transaction, it was announced on Monday.
The move will allow the cloud software company to further its data management and analytics services.
Tableau Software is interactive data visualisation firm with more than 86,000 customers including Verizon and Netflix (NASDAQ:NFLX).
As part of the deal, Tableau shareholders will receive 1.103 Salesforce shares.
The deal values the company at $177.88 per share, marking a premium of 42% on the company’s closing price on Friday.
Co-chief executive Keith Block commented on the acquisition: “Salesforce’s incredible success has always been based on anticipating the needs of our customers and providing them the solutions they need to grow their businesses,”
“Data is the foundation of every digital transformation, and the addition of Tableau will accelerate our ability to deliver customer success by enabling a truly unified and powerful view across all of a customer’s data.”
Both company board’s have agreed upon the terms of the deal. Tableau will continue to operate independently from its headquarters in Seattle once the all-stock deal has been completed.
Shares in Salesforce (NYSE:CRM) are currently down -3.34% as of 14:33AM (GMT).