Salesforce, the SaaS firm has confirmed acquiring data visualization and analysis platform Tableau for $15.7 billion through an all-stock deal. The deal is expected to close by the end of the third quarter of the year as both the firms' board directors have signed on the dotted lines. The deal is said to be the largest ever by the SaaS giant.
Tableau was founded in 2003 by Chris Stolte, Christian Chabot, and Pat Hanrahan. The firm helps global enterprises in data visualizations through business intelligence. The company went public in 2013. Ever since its inception, the company had raised $15 million from investors like Meritech Capital Partners and New Enterprise Associates.
Salesforce Chairman and Co-CEO commenting on the deal said, “We are bringing together the world’s #1 CRM with the #1 analytics platform. Tableau helps people see and understand data, and Salesforce helps people engage and understand customers. It’s truly the best of both worlds for our customers–bringing together two critical platforms that every customer needs to understand their world. I’m thrilled to welcome Adam and his team to Salesforce.” Tableau counts the likes of Charles Schwab, Verizon (which owns TC), Schneider Electric, Southwest and Netflix among its customers. The firm will continue to operate as an independent platform.
Tableau CEO Adam Selipsky commenting on the development said, “Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data. As part of the world’s #1 CRM Company, Tableau’s intuitive and powerful analytics will enable millions of more people to discover actionable insights across their entire organizations. I’m delighted that our companies share very similar cultures and a relentless focus on customer success. I look forward to working together in support of our customers and communities.”
Image Courtesy : tableau