Salesforce To Acquire Digital Commerce Provider Demandware For $2.8B
Software giant Salesforce.com announced Tuesday it has agreed to acquire digital commerce company Demandware for $2.8 billion.
San Francisco-based Salesforce will use the acquisition to create a new product line for it's Commerce Cloud software, the company said in a statement.
"Demandware is an amazing company—the global cloud leader in the multi-billion dollar digital commerce market," Salesforce CEO Marc Benioff said in the statement. "With Demandware, Salesforce will be well positioned to deliver the future of commerce as part of our customer success platform and create yet another billion-dollar cloud."
Clients of Burlington, Mass. based-Demandware include Adidas, Panasonic, Puma and Ethan Allen. The company went public in 2012. It was founded in 2004.
"Demandware and Salesforce share the same passionate focus on customer success," Demandware CEO Tom Ebling said in the Salesforce statement. "Becoming part of Salesforce will accelerate our vision to empower the world's leading brands with the most innovative digital commerce solutions that enable them to connect (one on one) with customers across any channel."
The acquisition is expected to close by the end of July. Under the terms of the deal, Salesforce said it will offer to acquire all outstanding shares of Demandware for $75 per share.