Wednesday, July 24, 2024
Commerce

Pops cloud commerce company up Demandware for $3bn

(c)iStock.com/BraunS

Salesforce has entered into a definitive agreement to purchase cloud trade platform Demandware for $2.8bn (#1.94bn).

Demandwareis an industry leading enterprise cloud trade platform, leading to personalisation for customers. Its current customers include Marks & Spencers and L’Oreal, among other names.

Saleseforce will begin tender offer for all outstanding shares of Demandware for $75.00 per share, in cash. The transaction is expected to close around July and will be the fourth acquisition this season of Salesforce.

In a blog post, president and chief product officer Alex Dayon said Saleforce’s acquisition of Demandware will “extend the organization’s CRM leadership”. The transfer will also enable Salesforce to capture the multi-billion dollar commerce market with what will likely be the its own Commerce Cloud, that will be an significant part the Customer Success Platform of Salesforce, he wrote.

Customers will have access to the business cloud commerce platform and vice versa of Demandware.

“Demandware is an wonderful company – that the global cloud pioneer at the multi-billion dollar digital trade market,” said Marc Benioff, chairman and CEO, Salesforce.

“With Demandware, Salesforce will be well positioned to supply the future of trade as part of our Client Success Platform and make another billion cloud.”