Someone wants to buy $44 billion Salesforce
Robert Galbraith/Reuters
It's unclear who the takeover offers are coming from, but if the deal goes through it would be the largest software company to get acquired in history.
Salesforce shares are soaring after the news hit the wires, up almost 13%. At one point, they went up as high as 17%.
Any company that acquires Salesforce would immediately become a market leader in the cloud CRM space. Some of the possible buyers for Salesforce would be Oracle, SAP, and Microsoft, the big enterprise software companies that have the cash and are in direct competition with Salesforce in the CRM space.
Founded in 1999, Salesforce has been one of the pioneers in the cloud-enterprise software market. Its main product is CRM software, which helps salespeople track sales leads and optimize sales strategies.
In its latest earnings, Salesforce had $1.44 billion in earnings, up 26% from last year. For the full year, it earned $5.37 billion, a 32% increase from the previous year.
Salesforce declined to comment on the story.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Mukesh Ambani’s JioCinema cuts subscription prices as India’s streaming war heats up
- Data Analytics for Decision-Making
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024