Salesforce strengthens its sector offering by buying Vlocity for $ 1.33 billion

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Vlocity, an American start-up specializing in CRM solutions, has moved into the fold of Salesforce. The software publisher announced this Wednesday, February 26, 2020 the acquisition of the start-up for an amount of 1.33 billion dollars.

Sectoral CRM offers

The two companies know each other well since they are long-standing partners. Founded in 2014, Vlocity develops CRM solutions specific to certain business sectors based on Salesforce. They are aimed at the communications, media and entertainment, insurance and financial services, health, energy, and utilities and not-for-profit sectors.

In addition, Salesforce had already invested more than $ 50 million in Vlocity through its Salesforce Ventures fund in 2019, and Vlocity had set up its headquarters in San Francisco, very close to Salesforce. This acquisition allows the CRM leader to strengthen its cloud offer in a world that is still as competitive, and prevents the start-up from being taken over by one of its competitors (Google, Microsoft, even Oracle).

Salesforce Loses Keith Block, Co-CEO

Salesforce, which just released better-than-expected fourth quarter financial results, also announced the resignation of Keith Block, who has led the company since 2018 alongside Marc Benioff. An unexpected departure when Keith Block was considered the designated heir to Marc Benioff.

Aude Chardenon

 @ChardenonA 

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