Salesforce forks out $360m, slips SteelBrick in its Christmas stocking
Might need to wait until Easter to open it though
Salesforce has bought itself an early Christmas present in the form of a $360m (£241m) acquisition of subscription billing apps biz SteelBrick. The acquisition is expected to be wrapped up by April 2016.
Salesforce is already familiar with the company's business, having poured $18m (£12m) into its coffers during a 2015.
SteelBrick closed a $48m funding round in October, which included “substantial participation” from Salesforce Ventures, according to TechCrunch.
Salesforce has been going for 16 years and continues to put expansion over turning a profit.
Salesforce is clearly keen to get its hand on more cloudy upstarts. Back in October Salesforce Ventures slapped a $100m (£66m) investment fund on the table for European upstarts.
SteelBrick CEO Godard Abel said: "We have witnessed how Salesforce has pioneered the shift to enterprise cloud computing and set the standard for customer success in the industry."
He added: "Many of our team members have already enjoyed growing their careers in the vibrant Salesforce ecosystem as customers and partners for many years, and we're excited to join Salesforce." ®