Summary
Salesforce.com, Inc. (CRM) announced via an 8-K filing on October 27, 2010, the acquisition of remaining outstanding shares in its Japanese subsidiary, salesforce Japan, from SunBridge Corporation and other shareholders. This transaction effectively terminates the original joint venture agreement that was established in December 2000. This move signifies Salesforce's intent to gain full control over its Japanese operations. For investors, this consolidation is a positive development, indicating a strategic step towards streamlining management, enhancing operational efficiency, and potentially accelerating growth in the significant Japanese market by fully integrating the subsidiary into the parent company's global strategy and financial reporting.
Key Highlights
- 1Salesforce.com acquired all remaining shares in its Japanese subsidiary, salesforce Japan.
- 2The acquisition was made from SunBridge Corporation and other minority shareholders of salesforce Japan.
- 3Effective with the acquisition, the joint venture agreement dated December 7, 2000, between Salesforce.com, SunBridge, and salesforce Japan, has been terminated.
- 4This action grants Salesforce.com full ownership and control over its Japanese operations.
- 5The transaction is expected to simplify management and reporting structures for the Japanese business.
- 6This strategic move aims to further integrate and leverage the Japanese market within Salesforce's global strategy.