Today, Salesforce announced that it has agreed to purchase enterprise cloud commerce solutions provider Demandware in a $2.8 billion cash deal.
Salesforce will commence a tender offer for all outstanding shares of Demandware - which boasts the likes of L’Oreal and Marks & Spencer as customers - for $75.00 a share, with the transaction expected to close at the end of July 2016.
Marc Benioff, chairman and CEO of Salesforce said: “Demandware is an amazing company - the global cloud leader in the multi-billion dollar digital commerce market. 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.”
As well as extend Salesforce's reach in the CRM space, the Demandware acquisition will also propel it into the digital commerce (or e-commerce) market with a new business division called the Salesforce Commerce Cloud.
Gartner expects worldwide spending on digital commerce platforms to grow at over 14 per cent annually, reaching $8.544 billion by 2020 and the Salesforce Commerce Cloud will be "integral part of Salesforce’s Customer Success Platform, creating opportunities for companies to connect with their customers in entirely new ways."
“Demandware and Salesforce share the same passionate focus on customer success," said Tom Ebling, CEO, Demandware. "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 1:1 with customers across any channel."
Image source: Shutterstock/Gil C