Tableau Software (DATA) Stock: Flying On Acquisition News

Tableau Software Inc Class A (NYSE: DATA) is flying early on in the trading session this morning, and for good reason. The company announced that it will be acquired with a strong premium. Of course, this is exciting investors, sending the stock on a run for the top with gains of 34.73% thus far this morning.

DATA Announces Acquisition News

As mentioned above, Tableau Software is having a great day in the market today after announcing that it will be acquired. The announcement came by way of press release early this morning.

In the release, the company announced that it has entered into a definitive agreement with Salesforce. Under the agreement, Salesforce will acquire DATA in an all-stock transaction. Through the transaction each share of common stock will be exchanged for 1.103 shares of Salesforce common stock.

The total value of the acquisition comes to $15.7 billion based on the trailing 3-day volume weighted average price of Salesforce shares as of June 7, 2019.

Management Commentary

We are bringing together the world’s #1 CRM with the #1 analytics platform. Tableau helps people see and understand data, and Salesforce helps people engage and understand customers. It’s truly the best of both worlds for our customers–bringing together two critical platforms that every customer needs to understand their world. I’m thrilled to welcome Adam and his team to Salesforce. – Marc Benioff, Chairman and co-CEO, Salesforce.

Salesforce’s incredible success has always been based on anticipating the needs of our customers and providing them the solutions they need to grow their businesses. Data is the foundation of every digital transformation, and the addition of Tableau will accelerate our ability to deliver customer success by enabling a truly unified and powerful view across all of a customer’s data. – Keith Block, co-CEO, Salesforce.

Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data. As part of the world’s #1 CRM company, Tableau’s intuitive and powerful analytics will enable millions more people to discover actionable insights across their entire organizations. I’m delighted that our companies share very similar cultures and a relentless focus on customer success. I look forward to working together in support of our customers and communities. – Adam Selipsky, President and CEO of Tableau.

Final Thoughts

With the acquisition in mind, DATA investors will be receiving a strong premium. However, it’s important to remember that the acquisition hasn’t been completed yet. After all, it is still subject to customary closing conditions as well as regulatory approval. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!

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