Salesforce.com, a San Francisco-based cloud computing company, has announced that it is buying US software maker MuleSoft for about US$5.9 billion in a cash-and-stock deal.
MuleSoft shareholders would get US$36 in cash and 0.0711 of a Salesforce share, or US$44.89 per share, representing a premium of 36 percent to Mulesoft’s Monday close, Reuters reports.
Including debt, the deal is valued at US$6.5 billion.
MuleSoft listed on the New York Stock Exchange on March 17 last year at US$17 apiece. It closed up 40 percent on the first day of trading, giving it a market value of nearly $3 billion.
Salesforce Ventures, the venture capital arm of Salesforce.com, led a US$128 million funding round in MuleSoft in 2015.
“It is really a natural fit for Salesforce to own Mule,” Reuters quoted Steve Koenig, an analyst at Wedbush Securities, as saying.
“Salesforce usually helps customers move to the cloud and digitally transform their business that often starts with CRM, so having Mule helps eliminate friction as customers transform their business and to provide a more complete solution,” Koenig said.
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