Salesforce.com, Inc. (CRM) acquires RelateIQ
Salesforce.com, Inc. (NYSE:CRM) has acquired RelateIQ for $390 million, according to Forbes. RelateIQ is a customer relationship management company that has a smaller marketshare than Salesforce.com. The acquisition was for $350 million in Salesforce.com stock and $40 million to cover the expected cash on hand at RelateIQ on August 1st. RelateIQ recently raised a new round of funding led by Redpoint Ventures at a $245 million valuation.
RelateIQ’s relationship intelligence platform grabs data from multiple apps like Office 365, LinkedIn, and Gmail to help salespeople monitor conversations with contacts and leads.
“Salesforce.com’s acquisition of RelateIQ will extend the value of Salesforce.com’s #1 CRM apps and platform with a new level of intelligence across sales, service, and marketing,” said RelateIQ cofounder and CEO Steve Loughlin.