SALESFORCE TO ACQUIRE DEMANDWARE FOR $2.8 BILLION TO INCREASE COMPANY’S DIGITAL COMMERCE PRESENCE
Cloud-based customer relationship management company Salesforce has entered into a definitive agreement to acquire cloud-based e-commerce service Demandware for $2.8 billion.
Under the terms of the agreement, Salesforce will commence a tender offer for all outstanding shares of Demandware for $75.00 per share, in cash. The transaction is expected to close in the second quarter of Salesforce’s fiscal year 2017, ending July 31.
Salesforce’s acquisition of Demandware will extend the company’s CRM leadership and position it to capture this multi-billion dollar digital commerce market with what will be the new Salesforce Commerce Cloud. Salesforce customers will now have access to the industry’s leading enterprise cloud commerce platform, and Demandware’s customers will be able to leverage Salesforce’s sales, service, marketing, analytics, and platform solutions to deliver a more comprehensive, personalized consumer experience.
“Demandware is an amazing company—the global cloud leader in the multi-billion dollar digital commerce market,” said Marc Benioff, chairman and CEO of Salesforce. “With Demandware, Salesforce will be well positioned to deliver the future of commerce as part of our Customer Success Platform and create yet another billion dollar cloud.”
Tom Ebling, CEO of Demandware, added: “Demandware and Salesforce share the same passionate focus on customer success. Becoming part of Salesforce will accelerate our vision to empower the world’s leading brands with the most innovative digital commerce solutions that enable them to connect 1:1 with customers across any channel.”
