Summary
Salesforce, Inc. (CRM) has officially completed its acquisition of Tableau Software, Inc. on August 1, 2019, following the successful expiration of its exchange offer. This significant strategic move, initially announced on June 9, 2019, involved an exchange of Tableau shares for Salesforce common stock and cash, with approximately 68% of Tableau's voting power being tendered. The merger solidifies Salesforce's position by integrating Tableau's leading data analytics capabilities into its Customer 360 platform. While the acquisition has received necessary antitrust clearances in the US and Germany without any required divestitures, it is subject to a review by the UK's Competition and Markets Authority (CMA). Salesforce has committed to keeping the Tableau business operationally separate during this review, which is expected to conclude by the fall of 2019. This operational separation is not anticipated to materially impact Salesforce's operations or financial results. Investors should monitor the CMA review outcome and the integration progress of Tableau's business into Salesforce's offerings.
Key Highlights
- 1Salesforce completed the acquisition of Tableau Software, Inc. on August 1, 2019, through an exchange offer and subsequent merger.
- 2The transaction involved exchanging Tableau shares for 1.103 shares of Salesforce common stock plus cash for each Tableau share.
- 3Approximately 68% of Tableau's voting power was tendered in the exchange offer, signifying strong shareholder participation.
- 4Regulatory approvals from the US and Germany were obtained without requiring divestitures or remedies.
- 5A review by the UK's Competition and Markets Authority (CMA) is ongoing, with Tableau's business to remain operationally separate.
- 6Salesforce expects the CMA review to conclude by the fall of 2019, with no material impact anticipated on its operations or financials.
- 7Financial statements and pro forma information related to the acquisition are incorporated by reference into the filing.