Salesforce reveals Vlocity $1.33B deal, management changes

Tuesday, 25. February 2020 22:30

Salesforce.com Inc. announced in a press release on Tuesday that it reached an agreement to buy Vlocity Inc., "a leading provider of industry-specific cloud and mobile software built natively on the Salesforce platform."

The transaction will be carried out in cash and will amount to approximately $1.33 billion, which represents the net value of "shares currently owned by the company", Salesforce said, adding that "the acquisition is expected to close during the second quarter fiscal 2021."

In a separate statement, Salesforce revealed that its co-CEO Keith Block decided to leave the company, leaving Marc Benioff (pictured) as Chairman and sole CEO.

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Breaking the News / MS