2 min Applications

Salesforce acquires CRM-startup Vlocity for over one billion euros

Salesforce acquires CRM-startup Vlocity for over one billion euros

Whereas the co-CEO of CRM company Salesforce, Keith Block, announced earlier this week that he would be leaving his current position and taking on a role as an advisor, Salesforce today made another big announcement. CRM startup Vlocity has been acquired for 1.3 billion dollars (approximately 1.2 billion euros).

The deal between the two Customer Relationship Management companies had been under construction for some time and the two were already working closely together. After all, Vlocity provided customers with a cloud and mobile software that was built on the Salesforce platform.

The amount involved in the acquisition, $1.33 billion, is 33 percent more than the value recently attached to the startup; one billion dollars. It is also significantly more than the initial investment of $163 million.

Vlocity will continue under the Salesforce banner, with only Marc Benioff as CEO. Co-CEO Keith Block will resign his position, which he has held since 2018. However, Block will remain as an advisor to his former co-leader, and in a reaction he states that there is no bad blood at all:

“It has been a great honour to lead the team together with Marc: a team that has more than quadrubled the value of Salesforce since 2013, when I joined. After that fantastic period, I’m ready for the next challenge and will stay on as an advisor. I will be eternally grateful for the friendship with Marc and I am proud of the direction the company is taking”.