Salesforce Acquires Data Management Platform Krux for $700m

krux salesforceCustomer management firm Salesforce has continued its recent spending spree by acquiring Krux, a data management platform, for $700m (£548m) in a mix of cash and stock, in an effort to strengthen its existing marketing tools.

Salesforce has spent almost $4bn on acquisitions over the past 12 months, picking up companies like Demandware, Quip and BeyondCore, as well as losing out to Microsoft in a bidding war for LinkedIn. It is rumoured to also be among the firms considering purchasing Twitter.

During the companys most recent earning call, CEO Marc Benioff referred to the current M&A period as an “incredible time for us to acquire some phenomenal assets” and indicated that the company would continue to make purchases until the end of the calendar year.

Krux was founded in 2010 and specialises in data analysis and intelligence for marketing, sorting first- and third-party data sources to build a more comprehensive picture of consumers. The company had previously raised $50m in funding, and worked with brands including Spotify, Kelloggs, Warner Brothers and Peugeot.

“We are thrilled to join the Salesforce family upon the close of the transaction and inspired by the possibilities ahead,” said Tom Chavez, CEO of Krux. “With this agreement, we are bringing together Salesforces number one CRM platform with Kruxs category-leading data management platform, the Intelligent Marketing Hub.

“As part of the Salesforce ecosystem, weve had the opportunity to work closely with the Salesforce team to create integrations that make our customers even more successful. Beyond the strategic and technology fit, we believe our companies core values, which include innovation, trust, transparency, and most importantly customer success, are in perfect alignment.”