Salesforce Completes Acquisition of Tableau

SAN FRANCISCO, Aug. 1, 2019 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Tableau Software, bringing together the world's #1 CRM with the world's #1 analytics platform.

Comments on the News:

• "Tableau is an extraordinary company, with an amazing product and team and an incredibly passionate community," said Marc Benioff, Chairman and co-CEO, Salesforce. "Together we can transform the way people understand not only their customers, but their whole world—delivering powerful AI-driven insights across all types of data and use cases for people of every skill level."
  
  
• "Data is the foundation of every digital transformation, and that's why we've never been more committed to delivering powerful analytics to every user," said Keith Block, co-CEO, Salesforce. "Tableau will make Salesforce Customer 360, including Salesforce's analytics capabilities, stronger than ever, enabling our customers to accelerate innovation and make smarter decisions across every part of their business."
  
  
• "Today marks the beginning of an exciting new chapter for Tableau, one where we will be able to accelerate our mission and help more people than ever see and understand data," said Adam Selipsky, President and CEO of Tableau. "As part of Salesforce we will deliver more value to customers faster with a broader and deeper analytics platform, fueled by Salesforce's customer intelligence platform. We are thrilled to embark on a journey with Salesforce that will, undoubtedly, transform organizations around the world by putting data at the center of the digital revolution."
  
  
• "The ability to rapidly turn all distributed data into insight using diverse visualization, analytics and AI methods will define tomorrow's leaders," said Dan Vesset, Group VP of Analytics and Information Management Research at IDC. "Salesforce's acquisition of Tableau gives customers the ability to ensure that self-service and embedded decision support and augmentation is available to all executives, managers and front line employees."

Combination to Supercharge Customers' Digital Transformations
With Tableau, Salesforce will be positioned to play a greater role in driving digital transformation, enabling companies around the world to tap into data across their entire business and surface deeper insights to make smarter decisions, drive intelligent, connected customer experiences and accelerate innovation.

Companies of every size and industry are transforming how they do business in the digital age—customers and data are at the heart of those transformations. This creates an incredible opportunity for Salesforce and Tableau, as IDC projects worldwide spending on technologies and services that will enable digital transformation to reach $1.8 trillion in 2022.¹

Tableau Brings Self-Service Analytics for Everyone to Salesforce Customer 360
With Customer 360, Salesforce already provides organizations with a complete, intelligent view of their customers across every touchpoint. Salesforce pioneered AI for CRM with Salesforce Einstein, and today delivers AI-powered analytics for sales, service, marketing, commerce and more. Tableau pioneered self-service analytics with an intuitive analytics platform that empowers people of any skill level to work with data for any use case.

Tableau will make Salesforce Customer 360 stronger than ever, and together with Einstein, will enable Salesforce to offer a complete AI-powered analytics platform for everyone.

Tableau to Scale and Further Its Mission as Part of Salesforce
As part of Salesforce, Tableau will be positioned to accelerate and extend its mission to help people see and understand data. Tableau will operate independently under the Tableau brand, driving forward a continued focus on its mission, customers and community. Tableau will continue to be led by CEO Adam Selipsky and the current leadership team.

Guidance
With the completion of the acquisition of Tableau, Salesforce intends to provide an update with regards to fiscal year 2020 guidance on the company's second quarter conference call, to be held on Thursday, August 22, 2019 at 2:00 p.m. (PT) / 5:00 p.m. (ET). A live webcast of the event will be available on the Salesforce Investor Relations website at www.salesforce.com/investor.  A live dial-in is available domestically at 866-901-SFDC or 866-901-7332 and internationally at 706-902-1764, passcode 2492128.  A replay will be available at (800) 585-8367 or (855) 859-2056 until midnight (ET) Sept. 22 2019. More information is available at www.salesforce.com/investor.   

About Tableau
Tableau helps people see and understand data. Tableau's self-service analytics platform empowers people of any skill level to work with data. From individuals and non-profits to government agencies and the Fortune 500, tens of thousands of customers around the world use Tableau to get rapid insights and make impactful, data-driven decisions. See how Tableau can help you by downloading the free trial at www.Tableau.com/trial.

About Salesforce
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360-degree view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

Additional Information
Although the transaction has closed, the UK Competition and Markets Authority (CMA), the UK's antitrust regulator, has recently decided to review the transaction. Until the CMA completes its review, the companies will remain operationally separate.

1. Source: IDC Semiannual Worldwide Digital Transformation Spending Guide, April 2019

Forward-Looking Statements
This communication contains forward-looking information related to Salesforce, Tableau and the acquisition of Tableau by Salesforce that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the transaction, Salesforce's plans, objectives, expectations and intentions, the financial condition, and the results of operations and business of Salesforce or Tableau. Risks and uncertainties include, among other things, risks related to Salesforce's ability to implement its plans, forecasts and other expectations with respect to Tableau's business after the completion of the transaction and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Tableau's business model on Salesforce's ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; the negative effects of the consummation of the transaction on the market price of Salesforce's common stock or on Salesforce's operating results; significant transaction costs; unknown liabilities; the effect of the announcement or pendency of the transaction on Tableau's business relationships, operating results, and business generally; the effect of general economic and market conditions; the impact of geopolitical events; the impact of foreign currency exchange rate and interest rate fluctuations on Salesforce's results; Salesforce's business strategy and Salesforce's plan to build its business, including Salesforce's strategy to be the leading provider of enterprise cloud computing applications and platforms; the pace of change and innovation in enterprise cloud computing services; the seasonal nature of Salesforce's sales cycles; the competitive nature of the market in which Salesforce participates; Salesforce's international expansion strategy; Salesforce's service performance and security, including the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate potential security breaches; the expenses associated with new data centers and third-party infrastructure providers; additional data center capacity; real estate and office facilities space; Salesforce's operating results and cash flows; new services and product features; Salesforce's strategy of acquiring or making investments in complementary businesses, joint ventures, services, technologies and intellectual property rights; the performance and fair value of Salesforce's investments in complementary businesses through Salesforce's strategic investment portfolio; Salesforce's ability to realize the benefits from strategic partnerships, joint ventures and investments; the impact of future gains or losses from Salesforce's strategic investment portfolio including gains or losses from overall market conditions that may affect the publicly traded companies within Salesforce's strategic investment portfolio; Salesforce's ability to execute its business plans; Salesforce's ability to successfully integrate acquired businesses and technologies; Salesforce's ability to continue to grow unearned revenue and remaining performance obligation; Salesforce's ability to protect its intellectual property rights; Salesforce's ability to develop its brands; Salesforce's reliance on third-party hardware, software and platform providers; Salesforce's dependency on the development and maintenance of the infrastructure of the Internet; the effect of evolving domestic and foreign government regulations, including those related to the provision of services on the Internet, those related to accessing the Internet, and those addressing data privacy, cross-border data transfers and import and export controls; the valuation of Salesforce's deferred tax assets and the release of related valuation allowances; the potential availability of additional tax assets in the future; the impact of new accounting pronouncements and tax laws; uncertainties affecting Salesforce's ability to estimate its tax rate; the impact of expensing stock options and other equity awards; the sufficiency of Salesforce's capital resources; factors related to Salesforce's 2023 and 2028 senior notes, revolving credit facility, 2021 term loan and loan associated with 50 Fremont; compliance with Salesforce's debt covenants and lease obligations; current and potential litigation involving Salesforce; and the impact of climate change.

SOURCE Salesforce

Related Links

http://www.salesforce.com

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