Deals
Salesforce Buys Demandware for $2.8 Billion in Commerce Push
- Represents biggest acquisition to date for Salesforce
- CEO Benioff focused on expanding into specific industries
Salesforce Agrees to Buy Demandware for $2.8B
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Salesforce.com Inc. is entering the e-commerce industry with a suite of cloud-based services via its biggest acquisition yet, bolstering competition with rivals Oracle Corp. and SAP SE.
Salesforce agreed to buy Demandware Inc., whose cloud-based software is used by companies to run their e-commerce websites and manage store operations, for about $2.8 billion. San Francisco-based Salesforce will start a tender offer for all outstanding Demandware shares for $75 each in cash, the companies said in a statement Wednesday. That’s a 56 percent premium over Demandware’s closing shares Tuesday.