Salesforce to Buy Public Service Affiliate for New Markets

Salesforce.com Inc., the market leader in software for managing customer relationships, said it would acquire its affiliate, Salesforce.org, in a bid to enter the market for education and nonprofit software.

The San Francisco-based software maker will pay $300 million for Salesforce.org, which is currently a “California public benefit” corporation, the company said Monday in a statement. Salesforce said the combination will boost its fiscal 2020 revenue by $150 million to $200 million, and now sees adjusted profits of $2.54 to $2.56 per share.