Salesforce Announces Its Full Cash Acquisition of Cloud Service Provider Vvelocity for US $1.33 Billion
On February 26, it was reported by foreign media that Salesforce, an American cloud computing company, recently announced that it would purchase cloud services and mobile software service provider Vvelocity for $1.33 billion in full cash. Haoyouyun
Salesforce said that the company has signed a definitive agreement with Vvelocity, and the transaction is expected to be completed in the second quarter of fiscal year 2021.
Salesforce said in the statement that the feature set of Vvelocity will continue to enhance and supplement Salesforce's industry functions and product knowledge, open new industry functions based on the Salesforce platform, and provide customers with more tools and expert guidance for digital conversion.
Salesforce also released its financial report for the fourth quarter of fiscal year 2020 (as of January 31 this year). According to the financial report, Salesforce's revenue in the fourth fiscal quarter was $4.85 billion, up 35% year on year. Among them, the revenue of software subscription and support services was 4.56 billion US dollars, up 35% year on year; The revenue from personal services and other businesses was $288 million, up 26% year on year. Salesforce's net loss in the fourth fiscal quarter was $248 million, and its net profit in the same period last year was $362 million.
Salesforce also announced that Keith Block, the co CEO of the company, resigned, and Marc Benioff will serve as the sole CEO. Keith Block will continue to serve as CEO advisor.
At the close of the US stock market on Tuesday, Salesforce (NYSE: CRM) shares fell 2.51% to $181.27, with a total market value of about $160.786 billion. Before Wednesday's trading, Salesforce shares fell 2.69% to $176.4.
Salesforce is an old technology company. The company was founded in 1999. Its founder, Marc Benioff, was a former Oracle executive. The company was listed on the New York Stock Exchange in 2004. The company is a supplier of enterprise customer relationship management software. Its popular products, such as Sales Cloud, help sales staff improve their work efficiency; Desk.com, an online support solution for small businesses and their consumers; Chatter, enterprise internal social network.
