Mon, Aug. 1, 6:13 PM
- Salesforce (NYSE:CRM) shares are relatively unchanged in extended trading after the deal was disclosed in an 8-K filing today.
- The transaction figure in the document is $582M of stock, though TechCrunch is reporting the total value of the arrangement to be worth $750M.
- Quip offers a cloud word-processing and document-editing service.
- This deal follows Salesforce's recent unsuccessful effort to acquire LinkedIn.
- Quip press release
Sun, Jul. 24, 8:23 AM
- Salesforce (NYSE:CRM) CEO Marc Benioff, who recently lost a bidding war for LinkedIn (NYSE:LNKD) to Microsoft (NASDAQ:MSFT), would have made a stronger bid for the social network had it continued talks with him after its call for final offers.
- Persistent bidding by Salesforce - during the two months before LinkedIn's agreement to negotiate exclusively with Microsoft - ultimately raised the price of the deal by 22%, or $5B.
Thu, Jul. 14, 12:06 PM
- Brent Thill of UBS reiterates a Buy rating on Salesforce.com (CRM +0.3%) with a price target of $100 (current price $81.59).
- Citing the company's recently completed and largest yet acquisition - enterprise cloud solutions provider Demandware - Thill feels a significant gap has been filled in the company's product portfolio. The note expresses this deal was the best of all available options requiring a commitment of less than 5% of revenue even though the uniqueness of Demandware's assets are believed to have led to a higher multiple in securing the company.
Sun, Jul. 3, 9:20 AM
- A bidding war with Salesforce.com (NYSE:CRM) forced Microsoft (NASDAQ:MSFT) to pay nearly $6B extra last month to seal its planned takeover of LinkedIn (NYSE:LNKD).
- Details of the frenzied bidding were revealed in a filing with the SEC ahead of a shareholder vote to approve the transaction.
- A month-long back-and-forth between the two rivals pushed the value of the all-cash deal to $26.2B, making it the third-largest acquisition in the tech industry.
- Previously: Bloomberg: Salesforce bid for LinkedIn prior to the Microsoft deal (Jun. 16 2016)
Thu, Jun. 16, 6:03 PM
- Salesforce (NYSE:CRM) was bidding for LinkedIn (NYSE:LNKD) before the professional social network agreed to a $26.2B deal with Microsoft (NASDAQ:MSFT), sources tell Bloomberg.
- There was already speculation Salesforce (currently has a $55.3B market cap) or another third party was vying to acquire LinkedIn, given Microsoft is paying a near-50% premium to where LinkedIn traded before the deal was announced. LinkedIn's recruiting/jobs products would've complemented Salesforce's cloud CRM apps, and its user data could've been integrated with the apps. LinkedIn's Sales Navigator social selling tool already syncs with Salesforce's apps.
- Last year, Salesforce was reported to have held buyout talks with Microsoft that fell apart due to disagreements over price.
Wed, Jun. 1, 7:45 AM
- Demandware (NYSE:DWRE) +55.9% premarket after Salesforce.com (NYSE:CRM) agrees to acquire the provider of software to design e-commerce websites, in a deal worth ~$2.8B; CRM -2% premarket.
- CRM's cash offer of $75/share represents a 56.3% premium to DWRE's closing price yesterday.
- CRM expects the deal to raise its FY 2017 revenue by $100M-$120M while reducing adjusted EPS by $0.07; CRM also expects FQ2 adjusted EPS of $0.21-$0.22 and revenue of $2.01B-$2.03B.
- DWRE's clients include Lands' End, L'Oreal and Marks and Spencer Group.
Dec. 23, 2015, 5:34 PM
- A week after The Information reported Salesforce (NYSE:CRM) is in talks to buy SteelBrick for ~$600M, the company has announced it's buying the cloud configure-price-quote (CPQ) software firm for $360M ($300M net of cash on hand) in stock after accounting for Salesforce's existing stake in the company. (8-K filing)
- The deal is expected to close during Salesforce's April quarter. The company states "a portion of the aggregate consideration will be subject to a retention holdback and a portion will be held in escrow to secure the indemnification obligations of the SteelBrick stockholders."
- Last week: The Information's report and details about SteelBrick's products
- Update: SteelBrick CEO Godard Abel in a blog post about the deal: "Over the past six years, we’ve been on a mission to make selling simple by developing next generation Configure, Price, Quote (CPQ) and Subscription Billing apps, optimized for small- and mid-sized companies, on the Salesforce cloud platform with speed and ease ... Being a part of Salesforce will give us an amazing opportunity to accelerate our delivery of fully integrated Quote-to-Cash applications right within Salesforce, helping thousands more customers grow revenue faster than ever before."
Dec. 17, 2015, 11:19 AM
- The Information reports Salesforce (CRM -0.4%) is in talks to buy SteelBrick, a provider of cloud-based configure-price-quote (CPQ) software for sales pros, for as much as $600M, mostly in stock.
- SteelBrick's CPQ, billing, and analytics software help salespeople come up with proposals/prices, manage invoices and collections, and forecast the impact of price quotes on revenue. They complement Salesforce's core Sales Cloud salesforce automation software, and are built on top of Salesforce's cloud app platform.
- Salesforce invested in SteelBrick earlier this year. Oracle bought SteelBrick rival BigMachines in 2013 for a reported 9-figure sum; SteelBrick employs a number of BigMachines vets.
Aug. 6, 2015, 2:15 PM
- P-E firms Permira has closed its $5.3B ($48.75/share) acquisition of Informatica (INFA +0.4%), a deal first announced on April 7. Sohaib Abbasi will step down as Informatica's CEO, but remain chairman.
- Along with the deal's closing, Informatica has announced Microsoft (NASDAQ:MSFT) and Salesforce.com (NYSE:CRM) have become "strategic investors," taking stakes of undisclosed sizes in the data warehousing software vendor.
Jul. 7, 2015, 12:41 PM
- After following markets lower earlier today, Workday (WDAY +1.1%) has turned positive in the wake of a column from The Information's Steve Nellis arguing Microsoft (NASDAQ:MSFT) should buy the cloud HCM/financials software leader.
- Nellis: "Only Salesforce (NYSE:CRM) and Workday have enough revenue momentum to help Microsoft become a major seller of software for tracking customers, employee records and financials. But Workday is the better choice for several reasons, including the fact that Salesforce’s products feel dated."
- CNBC reported in May Microsoft held buyout talks with Salesforce, the sole enterprise cloud software pure-play larger than Workday, while adding the companies "remained far apart on a price."
- With a current market cap of $14.8B - would the company be willing to sell at $19B-$20B? - Workday would be a much less costly acquisition for Microsoft than Salesforce ($45.3B market cap). Both the company's forward sales multiples and expected growth rates are notably higher than Salesforce's.
May 22, 2015, 1:19 PM
- CNBC's David Faber reports Microsoft (MSFT -0.7%) held "significant talks" earlier this spring about acquiring Salesforce (CRM +2.4%), but the companies "remained far apart on a price." Microsoft was reportedly willing to offer $55B for Salesforce (current market cap of $49.3B); Salesforce CEO Marc Benioff is said to have wanted as much as $70B.
- Faber adds the talks aren't expected to restart anytime soon. Aside from the price difference, Satya Nadella was reportedly "somewhat reluctant to pull the trigger on a deal of such size and consequence for his company."
- Bloomberg reported on May 5 Microsoft is "evaluating a bid" for the cloud CRM software giant - Microsoft's name had already loomed large in speculation about a rumored suitor. Reuters reported soon afterwards Microsoft wasn't currently weighing an offer.
- Salesforce has spiked higher on the report. Shares are up 6.3% since the company posted an FQ1 beat and reported 31% Y/Y deferred revenue growth on Wednesday afternoon.
May 20, 2015, 4:13 AM
- SAP Chief Executive Bill McDermott once again ruled out that his company has any interest in buying rival Salesforce.com (NYSE:CRM) and went further today by saying that Salesforce is unlikely to be acquired by any rival in the industry.
- "I do not expect that (an acquisition) to be the case at all because of the valuation of the company," McDermott declared.
- Salesforce will report FQ1 results after the bell today.
- Previously: Salesforce slumps as dealReporter states M&A talks are slow (May. 19 2015)
May 19, 2015, 1:06 PM
- Sources tell dealReporter Salesforce (CRM -1.9%) buyout talks are currently quiet, and that a deal could take time. Shares have moved lower in response.
- Salesforce, quite volatile over the last 3 weeks as various M&A rumors have emerged and been refuted, remains up 6% from where it traded before Bloomberg first reported the company had been approached by a potential acquirer on April 29. FQ1 results arrive tomorrow afternoon.
May 8, 2015, 4:03 AM
- Microsoft (NASDAQ:MSFT) currently is not weighing an offer for Salesforce.com (NYSE:CRM), Reuters reports, saying that Microsoft sees the CRM software giant's market valuation as too expensive.
- Earlier this week, Bloomberg reported that Microsoft was evaluating a bid for Salesforce after the latter was approached by another unnamed would-be buyer.
May 5, 2015, 3:08 PM
- Bloomberg reports Microsoft (MSFT -1.2%) is "evaluating a bid" for Salesforce (CRM +4.8%) after Salesforce was approached by another potential suitor. Salesforce is reportedly working with two banks to determine a response.
- Bloomberg cautions Microsoft isn't currently in talks with the cloud CRM software giant, whose market cap stands at $49B. There was plenty of speculation Microsoft was the company that (per Bloomberg) recently approached Salesforce. SAP has denied being interested, and Oracle has suggested it isn't. A source says Microsoft has "long expected it might compete for Salesforce if it was for sale."
- Salesforce has jumped on the report. If Microsoft pursues a bid, activist ValueAct Capital (has a board seat) might raise objections.
- The report comes as Microsoft announces a partnership with cloud ERP/HR/e-commerce software vendor NetSuite (N +3%) to integrate NetSuite's apps with Office 365 apps and Azure services, and to make Azure NetSuite's "preferred cloud infrastructure platform." Microsoft struck an Office 365-focused partnership with Salesforce last year. NetSuite has received a lift from Bloomberg's report.
May 3, 2015, 6:12 AM
- Shooting down a Bloomberg report from Friday, SAP said it hasn't ever considered acquiring online rival Salesforce.com (NYSE:CRM).
- "There is no truth whatsoever to the suggestion SAP is considering or ever did consider acquiring Salesforce.com," announced an SAP spokesperson in an e-mailed statement.
- Many rumors have been on the loose since reports first surfaced last Wednesday stating Salesforce had been approached by a potential acquirer.
- Previously: Bloomberg: Salesforce, SAP discussed alliance, acquisition last year (May. 01 2015)
salesforce.com, inc. provides enterprise cloud computing applications. It provides a comprehensive customer and collaboration relationship management service to businesses of all sizes and industries and also provides a technology platform for customers and developers to build and run... More
Industry: Application Software
Country: United States