, Inc. (CRM) acquires RelateIQ

Posted Jul 12, 2014, 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 The acquisition was for $350 million in 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.

? acquisition of RelateIQ will extend the value of #1 CRM apps and platform with a new level of intelligence across sales, service, and marketing,? said RelateIQ cofounder and CEO Steve Loughlin.