Hello, Guest!
  • Monday, November 18, 2024

Salesforce to Acquire Vlocity for $1.33B

Jeff Brody

Salesforce (NYSE: CRM) has agreed to buy Vlocity, a San Francisco-based cloud and mobile software provider, for approximately $1.33B.

The transaction is expected to be finalized in the second quarter of fiscal 2021, subject to the waiting period’s expiration under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions, Salesforce said Tuesday.

Salesforce said Vlocity’s offerings will complement its product knowledge and industry capabilities and provide clients with more tools and expertise to advance digital transformation.

David Schmaier, CEO and founder of Vlocity, announced the deal in a blog post published Tuesday and said Vlocity will bring to Salesforce its deep expertise in government, communications, energy, media and entertainment, insurance, utilities, insurance and health industries to help organizations facilitate digital transformation.

Salesforce will use existing cash and assume outstanding unvested equity awards held by Vlocity employees to fund the acquisition.

Video of the Day

Related Articles

Senate Confirms Mara Karlin as DOD Strategy Lead Executive Moves

Senate Confirms Mara Karlin as DOD Strategy Lead

Mara Elizabeth Karlin, principal deputy assistant secretary for international security affairs at the Defense Department, was confirmed by the Senate to serve as DOD’s assistant secretary for strategy, plans and capabilties. Senators approved the nomination by voice vote Monday, following a series of congressional events that took place since the White House announced President Joe

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract News

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract

Express Scripts has secured a potential multi-year $4.3 billion contract to help the Defense Health Agency manage pharmacy benefit-related activities across all 50 states; Washington, D.C; Guam; Puerto Rico; and the Virgin Islands. The company will provide management services in support of the TRICARE Pharmacy Benefit Program, which delivers prescription drugs to beneficiaries through mail

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy News

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy

Defense Secretary Lloyd Austin has signed a plan designed to guide the military’s implementation activities aimed at ensuring U.S. electromagnetic spectrum advantage and providing warfighters with “freedom of action” in the EMS. The Department of Defense said Thursday its operations in air, land, maritime, space and cyberspace domains rely on EMS and the 2020 Electromagnetic