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Salesforce, Inc. 8-K Report, Corporate Update (Dec 23, 2015)

Reports
Other Events
Filing Date
Filed December 23, 2015
Period End
December 23, 2015
Security
CRM
In the record · 2016–202610-K1110-Q328-K144

CRM filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 144 current reports (8-K) between 2016 and 2026.

  1. FY2017 annual report10-K · Mar ’17Mar ’17
  2. Deal closed8-K · Aug ’19Aug ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Leadership change8-K · Jul ’25Jul ’25

01—Abstract

Summary

Summary of the 8-K filed December 23, 2015. Cited figures are marked; the original filing is the authoritative source.

Salesforce.com, Inc. announced on December 23, 2015, a definitive agreement to acquire SteelBrick, Inc., a quote-to-cash platform.

This acquisition, valued at approximately $360 milliona (net of cash acquired and adjusted for Salesforce Ventures' investment), is expected to close in the first fiscal quarter of 2016, by April 30, 2016. The deal involves the issuance of Salesforce common stock and the assumption of SteelBrick's equity awards. The integration of SteelBrick's native Salesforce platform quoting and order automation capabilities is expected to enhance Salesforce's customer relationship management (CRM) offerings by streamlining the entire deal-to-cash cycle.

This strategic move aims to deepen the company's ecosystem and provide customers with a more comprehensive solution for managing sales processes, from initial quote generation to final payment collection. Investors should note the forward-looking nature of this announcement and the associated risks, as detailed in Salesforce's SEC filings.

02—Key points

Key Highlights

  1. Definitive agreement to acquire SteelBrick, Inc., a quote-to-cash platform.
  2. Acquisition valued at approximately $360 million (net of cash acquired and adjusted for Salesforce Ventures' investment).
  3. Deal consideration includes Salesforce common stock and assumption of SteelBrick equity awards.
  4. SteelBrick operates natively on the Salesforce platform, aligning strategically with the core business.
  5. Acquisition expected to close by April 30, 2016 (end of Salesforce's first fiscal quarter of 2016).
  6. Customary closing conditions apply, including regulatory approvals (Hart-Scott-Rodino Act).

03—Questions

Frequently Asked Questions

  1. What is SteelBrick and why is Salesforce acquiring it?

    SteelBrick is a next-generation quote-to-cash platform that automates the entire deal close process, from quoting and configuring orders to collecting payments. Salesforce is acquiring SteelBrick to enhance its core CRM offering by integrating a native solution that streamlines sales processes and improves the customer experience from quote to cash.

  2. What is the total cost of the acquisition?

    The aggregate consideration for the acquisition is valued at approximately $360 million. This amount is net of cash acquired and has been adjusted to account for Salesforce Ventures' existing investment in SteelBrick. Customary purchase price adjustments may also apply.

  3. How will the acquisition be paid for?

    The acquisition will be paid for through a combination of Salesforce's common stock and the assumption of SteelBrick's stock options and other equity awards.

  4. When is the acquisition expected to be completed?

    The acquisition is anticipated to close in Salesforce's first fiscal quarter ending April 30, 2016. The closing is subject to standard conditions, including regulatory approvals under the Hart-Scott-Rodino Antitrust Improvements Act.

04—Continue

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