Salesforce to Buy Vlocity for $1.33 Billion, Net of Value of Currently Owned Shares

Date : 02/25/2020 @ 10:56PM
Source : Dow Jones News
Stock : Salesforce Com Inc (CRM)
Quote : 146.0  -8.73 (-5.64%) @ 12:00AM
After Hours
Last Trade
Last $ 146.00 ◊ 0.00 (0.00%)

Salesforce to Buy Vlocity for $1.33 Billion, Net of Value of Currently Owned Shares

Salesforce Com (NYSE:CRM)
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By Josh Beckerman

 

Salesforce.com Inc. has agreed to buy cloud and mobile software company Vlocity Inc. for about $1.33 billion, net of the value of shares currently owned by Salesforce.

Salesforce Ventures is an investor in Vlocity, which said in March 2019 that $60 million of Series C financing brought its total funding to $163 million.

Vlocity's backers have included Sutter Hill Ventures, Accenture PLC, New York Life Insurance Co. and Bessemer Venture Partners.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

February 25, 2020 17:41 ET (22:41 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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