- Salesforce (NYSE:CRM) is buying RelateIQ, provider of an analytics-based cloud CRM software platform, for $350M in stock. (8-K)
- RelateIQ has pitched itself as a data-driven alternative to Salesforce and other CRM platforms. Its apps analyze a user's inbox and calendar to find valuable contacts, merge relevant data, and keep track of customer interactions. The company recently raised $40M at a $245M valuation.
- Salesforce, already the CRM market's largest vendor (16.1% 2013 share, per Gartner), is looking to stay ahead of both established software giants such as Oracle, SAP, and Microsoft (expanding their cloud offerings), and upstarts such as SugarCRM.
- The RelateIQ deal is Salesforce's largest since last year's $2.5B purchase of cloud marketing automation software vendor ExactTarget.