June 3, 2016
By: Daniella Soloway
Salesforce has announced its acquisition of Demandware, a cloud-based provider of e-commerce services, for $2.8 billion. Along with this major purchase, Salesforce is also creating a division called Salesforce Commerce Cloud.
In 2012, Demandware went public, and Salesforce offered a premium for outstanding shares, valued at $75 per share. Demandware’s current valuation is just under $2 billion.
With the acquisition, Salesforce will now compete with companies like Amazon, eBay, and Shopify. Marc Benioff, Salesforce’s chairman and CEO, said, “With Demandware, Salesforce will be well positioned to deliver the future of commerce as part of our Customer Success Platform, and create yet another billion dollar cloud.”