Deals
Salesforce Steps Up Dealmaking to Keep Pace With Rivals in Cloud
- Company has already spent multiple times last year’s total
- Cloud-software provider adding products to accelerate growth
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Salesforce.com Inc. is in a buying mood.
Seeking to move into new markets and keep up with rivals pushing into businesses it helped popularize, the cloud-based software company has announced or completed deals worth more than about $3.5 billion since February, compared with just $60.1 million net of cash in the fiscal year that ended Jan. 31, according to data compiled by Bloomberg. This year’s total could have been much higher -- Salesforce lost out on the acquisition of LinkedIn Corp. to Microsoft Corp., in the biggest tech takeover unveiled so far this year, with an agreed price of $26.2 billion.