Salesforce Acquires Startup RelateIQ
Salesforce Acquires RelateIQ For $390 Million, Preempting A Future Rival
Salesforce has reached a deal to acquire RelateIQ, a Palo Alto, Calif.-based startup, according to a regulatory filing with the U.S. Securities and Exchange Commission.
The deal values RelateIQ at a combined $390 million: Salesforce will issue shares worth about $350 million in exchange for all shares of RelateIQ. The filing says Salesforce expects to issue between 6.2 million and 7.6 million shares. Also RelateIQ has $40 million in cash from its latest VC round.
RelateIQ has built what it calls a “relationship intelligence” platform that uses machine learning to automatically capture data from email, calendars and phone calls to provide users with insights into their working lives in real time. The deal calls for RelateIQ to become a Salesforce subsidiary, the filing says.
Read more about why RelateIQ joined the Salesforce family to inject a new level of intelligence across Salesforces’s service, marketing and sales products.