Salesforce acquires Tableau to take on Microsoft Power BI

Salesforce acquires Tableau to take on Microsoft Power BI

Salesforce acquires Tableau to take on Microsoft Power BI

Salesforce, a maker of customer-management software, is buying Tableau Software in an all-stock deal valued at $15.7 billion.

"Tableau helps people see and understand data, and Salesforce helps people engage and understand customers", CEO Marc Benioff said in a statement.

Shares of Tableau jumped 35 per cent to $169.50, while those of Salesforce slipped 3 per cent to $156.43 in premarket trading. "It's truly the best of both worlds for our customers - bringing together two critical platforms that every customer needs to understand their world".

Tableau shareholders will get 1.103 Salesforce shares for each Tableau share in the all-stock deal, valuing the offer at $177.88 per share as of Friday's close, a 42 per cent percent premium as of that time.

"Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data", Tableau President and CEO Adam Selipsky said in a prepared statement.

With Tableau and Einstein together, Salesforce will deliver an intelligent and intuitive analytics and visualization platform for every department and every user at any company.

Salesforce.com is buying big data company Tableau Software.

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"With Tableau, Salesforce will play an even greater role in driving digital transformation, enabling companies around the world to tap into data across their entire business and surface deeper insights to make smarter decisions, drive intelligent, connected customer experiences and accelerate innovation", the company says.

Salesforce says the acquisition will bolster the enterprise firm's FY20 revenue by $350 to $400 million, increasing GAAP revenue to between $16.45 billion to $16.65 billion. The companies said that Tableau's founders: Christian Chabot, Patrick Hanrahan and Christopher Stolte, have all agreed to tender their shares.

Salesforce said Tableau will continue to operate independently under the Tableau brand with Selipsky and the rest of its current leadership team in charge. The company has grown rapidly, reporting fiscal 2018 (ended December 31, 2018) revenue of $1.16 billion, up 18 percent from 2017. In its last fiscal year, which ended January 31, Salesforce earned $1.43 per share on $13.28 billion in revenue. More than 86,000 organizations around the world use Tableau to understand data.

In 2016, Reuters had reported that Seattle-based Tableau was one of the companies in a leaked list of potential acquisition targets for Salesforce and that Tableau was working with an investment bank to explore a sale.

But Salesforce did not provide additional details about its plans to integrate the two companies' product lines.

Microsoft's Power BI is a direct competitor to Tableau.

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