Salesforce continues to acquire prominent companies in the enterprise technology arena—this time, the chosen cloud solutions provider is—Vlocity.
The takeover will happen over the next year, and the overall cost of acquiring Vlocity for Salesforce is set to $1.33 billion.
In the CRM market, Vlocity is already well-known for building industry-specific solutions including Communications, Media & Entertainment, Energy & Utilities, Insurance, Health and Government.
Previously classified as a (unicorn) startup company, Vlocity started its operations in 2014, by building industry-specific solution on the Salesforce platform. The success of Vlocity is demonstrated by the fact that it was one of the largest and fastest-growing Salesforce-native ISVs – valued at $1 billion just under a year ago. Judging by the closeness of their mission, it was only a matter of time when these two enterprise technology providers would become one.
Vlocity’s founder and CEO David Schmaier expressed his delight by the acquisition news on the Vlocity blog:
“Upon the close of the transaction, Vlocity – this wonderful company that we, as a team, have created, built, and grown into a transformational solution for six of the most important industries in the enterprise – will become part of Salesforce.”
What does the Vlocity acquisition mean for Salesforce?
The most significant benefit of adding Vlocity to the Salesforce family is rooted in the Vlocity’s portfolio of products—the six industry-specific solutions. With Vlocity under the same roof, Salesforce has a ready-made solution to offer companies that want fast implementation and tailored system, without cutting out on any of the Salesforce’s powerful features.
As Salesforce shared in its press release:
“It is important for our customers to have products that speak the language of their industries. Vlocity’s feature set will continue to enhance and complement Salesforce’s industry capabilities and product knowledge, open up new industry capabilities built on the Salesforce platform and provide customers with even more tools and expert guidance to digitally transform.“
This week we have had additional news coming from Salesforce, this time regarding the leadership structure—Salesforce’s co-CEO Keith Block is stepping down, making Mark Benioff the sole Salesforce CEO and Chair from now on.
It will be interesting to watch the dynamic that transpires once the Vlocity founder and CEO David Schmaier joins Salesforce as well.
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