Gabey Goh
Oct 4, 2016

Salesforce acquires Krux in bid to boost data analytics

US$700 million acquisition deal touted to bolster Salesforce's ability to better identify and serve its cloud-software customers.

Salesforce acquires Krux in bid to boost data analytics

UNITED STATES - The eve of Salesforce’s annual conference Dreamforce in San Francisco kicked off with the company announcing its acquisition of Krux, a San Francisco company that provides a data-management platform to help marketers.

The deal is reportedly for US$700 million in cash and stock, with a regulatory filing from Salesforce disclosing the company’s plans to pay US$340 million as the cash portion.

In a bid by the cloud-software giant to bolster its marketing-data and analytics segment, the addition of six-year-old Krux, is intended to extend the Salesforce Marketing Cloud’s audience segmentation and targeting capabilities to power consumer marketing with even more precision, at scale.

In addition, Krux will feed Salesforce Einstein, the company’s artificial intelligence platform, with billions of new signals, enabling companies to be even smarter about their customers.

In a blog post announcing the acquisition, Krux CEO Tom Chavez called it “great news for our current and future clients, our partner network and our employees.”

“We’re trading gas for rocket fuel,” he added.

Dreamforce 2016 kicks off on Tuesday, 4 October, and the company expected to make a slew of announcements around the expansion and enhancement of its existing product portfolio.  

Source:
Campaign Asia

Related Articles

Just Published

1 day ago

Indonesia bans iPhone 16 sales over lack of local ...

Marketing and sale of Apple's latest phones have been blocked in Indonesia after the tech giant failed to comply with regulations requiring 40% of smartphones to be made from local parts.

1 day ago

Is Publicis’ dismissal of staff for return-to-office...

Adland weighs in on where the flexible working debate is heading.

1 day ago

40 Under 40 2024: Crystalbelle Lau Lay Yee, VoxEureka

Lau’s business acumen and hands-on support for her team have led to her being affectionately labelled as VoxMama within the communications agency she co-founded.

1 day ago

What will it really take for adland to divest from ...

Financial profit is often attributed as the main reason agencies continue to work with fossil-fuel clients. Experts in the industry argue that stricter regulation and forward-thinking measures are needed to move away from agencies’ over-reliance on fossil fuels.