Salesforce, the cloud-based software company founded in 1999, has been on a steady acquisition spree over the past decade. These acquisitions have not only broadened the company’s product offerings but have also significantly impacted its financial standing on the New York Stock Exchange (NYSE) under the ticker symbol CRM.
One of the most notable acquisitions made by Salesforce was the purchase of MuleSoft in 2018 for $6.5 billion. MuleSoft is a leading provider of integration software, which allows different applications and systems to communicate with each other. This acquisition positioned Salesforce as a key player in the integration market, enabling them to offer a more comprehensive suite of products to their customers. The impact of this acquisition was immediately felt on the NYSE, with Salesforce’s stock price jumping by more than 6% on the day the acquisition was announced.
Another significant acquisition made by Salesforce was the purchase of Tableau in 2019 for $15.7 billion. Tableau is a data visualization software company that allows users to create interactive and shareable dashboards. This acquisition further solidified Salesforce’s position in the analytics market and provided them with the tools to help their customers make data-driven decisions. The impact of this acquisition on the NYSE was also positive, with Salesforce’s stock price increasing by more than 10% on the day the acquisition was announced.
Salesforce’s most recent acquisition was the purchase of Slack in 2020 for $27.7 billion. Slack is a messaging platform that enables teams to communicate and collaborate in real-time. This acquisition positioned Salesforce as a leader in the growing remote work and collaboration space, especially in light of the COVID-19 pandemic. The impact of this acquisition on the NYSE was significant, with Salesforce’s stock price surging by more than 20% on the day the acquisition was announced.
Overall, Salesforce’s acquisitions have had a significant impact on its financial standing on the NYSE. These acquisitions have not only expanded the company’s product offerings but have also increased its market share and solidified its position as a key player in the cloud computing space. As Salesforce continues to grow and expand through acquisitions, investors can expect to see further impacts on the company’s stock price and financial performance on the NYSE.