Salesforce to Acquire Vlocity for $1.33B

Jeff Brody

Salesforce (NYSE: CRM) has agreed to buy Vlocity, a San Francisco-based cloud and mobile software provider, for approximately $1.33B.

The transaction is expected to be finalized in the second quarter of fiscal 2021, subject to the waiting period’s expiration under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions, Salesforce said Tuesday.

Salesforce said Vlocity’s offerings will complement its product knowledge and industry capabilities and provide clients with more tools and expertise to advance digital transformation.

David Schmaier, CEO and founder of Vlocity, announced the deal in a blog post published Tuesday and said Vlocity will bring to Salesforce its deep expertise in government, communications, energy, media and entertainment, insurance, utilities, insurance and health industries to help organizations facilitate digital transformation.

Salesforce will use existing cash and assume outstanding unvested equity awards held by Vlocity employees to fund the acquisition.

Check Also


GreenZone JV to Help Manage SEC Apps Under Potential $115M Task Order

GreenZone Solutions-led joint venture has won a potential 10-year, $115M task order under the Securities and Exchange Commission's OneIT contract vehicle to provide application management support services to the agency.

assault boat

State Dept OKs $126M Philippine Request for Assault Boats, Weapon Systems

The State Department has approved a potential $126M foreign military sale of armed assault vessels, ancillary equipment and contractor support services to the Philippines. The possible FMS transaction includes 36 scout boats, 36 assault boats, 18 light support boats, 156 M240B machine guns and other equipment such as forward-looking infrared, thermal imaging and RF-7850 radio systems, the Defense Security Cooperation Agency said Thursday.