Salesforce buying Tableau in $15.7 billion deal

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Salesforce is buying analytics platform company Tableau Software in a $15.7 billion deal. The transaction has been approved by the boards of directors of both companies, and expected to be completed during Salesforce’s fiscal third quarter ending October 31, 2019; subject to customary closing conditions.

Following the close of the acquisition, Tableau will operate independently under the Tableau brand, said Salesforce in a statement. The company will remain headquartered in Seattle, Wash. and will continue to be led by CEO Adam Selipsky and the current leadership team.

“Tableau helps people see and understand data, and Salesforce helps people engage and understand customers. It’s truly the best of both worlds for our customers–bringing together two critical platforms that every customer needs to understand their world,” said Marc Benioff, Chairman and co-CEO, Salesforce.

More than 86,000 organizations around the world, such as Charles Schwab, Verizon, Schneider Electric, Southwest and Netflix, use Tableau, according to the statement.

Bank of America Merrill Lynch is serving as exclusive financial advisor to Salesforce and Wachtell, Lipton, Rosen & Katz and Morrison & Foerster are serving as legal counsel. Goldman Sachs is serving as exclusive financial advisor to Tableau and Cooley is serving as legal counsel.

[Image courtesy: Tableau]