Salesforce Acquires Competing CRM Company
Acquisitions are a common sight in today’s market.
Companies are always looking for ways to expand their services and acquiring a company that is already established is a great way to do so.
The acquisition comes after RelateIQ raised $40 million earlier this year to raise their valuation to around $250 million. On the RelateIQ’s blog, Steve Loughlin, co-founder of the big data company, states “We believe this offers our customers the best of both worlds. Salesforce.com pioneered the shift to enterprise cloud computing, redefining modern CRM as we know it.”
For those who do not know about RelateIQ, the big data startup developed a Relationship Intelligence platform that it considers a new take on traditional CRM systems. The new platform automatically captures data for clients and lets them view it on any devices as well as connects users email inbox and calendar to provide a comprehensive experience.
Salesforce has not acknowledged the acquisition yet on their blog.
The deal has been reported to be in the $350-$390 million range.