Hello, Guest!
  • Monday, December 23, 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

Microsoft Federal’s Jason Payne on Tackling Cloud Security Challenges With Zero Trust, AI News

Microsoft Federal’s Jason Payne on Tackling Cloud Security Challenges With Zero Trust, AI

Jason Payne, chief technology officer at Microsoft Federal, said implementing zero trust, artificial intelligence, machine learning and other emerging technologies and techniques could help government agencies address threats to cloud environments. In an article published in Carahsoft.com, Payne wrote that zero trust enables agencies to prevent unauthorized access, implement granular security policies and block lateral

USDA Picks 12 Cloud SaaS Providers for STRATUS Basic Ordering Agreement Pool 3 Cloud

USDA Picks 12 Cloud SaaS Providers for STRATUS Basic Ordering Agreement Pool 3

The U.S. Department of Agriculture has awarded basic ordering agreements to 12 companies as part of the third pool of the STRATUS program for cloud software-as-a-service offerings. USDA released a request for quotes in late September and received 41 quotes for STRATUS Cloud SaaS BOA Pool 3, according to an award notice published Friday on

Red Hat’s Mark Anderson: Everything-as-Code Approach, Automation Could Help Agencies Advance Cloud Security News

Red Hat’s Mark Anderson: Everything-as-Code Approach, Automation Could Help Agencies Advance Cloud Security

Mark Anderson, an associate principal solutions architect at Red Hat, said government agencies looking to manage and ensure the security of hybrid cloud environments should implement an everything-as-code approach and automation. In an article published in Carahsoft.com, Anderson wrote that the everything-as-code approach “means thinking about how to approach operations in a way in which