View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cloud
September 15, 2016updated 21 Sep 2016 2:52pm

Salesforce spending spree continues with Gravitytank buyout

Company has spent over $4bn this year.

By James Nunns

Salesforce has continued its spending spree with the acquisition of Gravitytank.

The Chicago-based consulting agency joins the Salesforce ranks along with a number of other acquisitions that the cloud CRM company has made this year.

So far the company has spent over $4bn on the likes of Demandware for $2.8bn, Coolan for an undisclosed amount, Quip for $582 million, and others.

Gravitytank, which describes itself as an “innovation consultancy” that combines design, research, and strategy in order to bring clarity to the challenges of innovation, was founded in 1999.

Gravitytank said on its website that it would aim to continue its previous work with Salesforce: “where we’ll be able to pursue our passion for helping customers around the world identify new business opportunities, reinvigorate their brands and disrupt their industries, on a much larger scale as part of the world’s #1 CRM platform,” Shailesh Patel, a partner at the company said.

The company will help Salesforce customers to connect with their customers, employees, and partners in new ways.

Over the past two years a number of tech and consulting companies have made acquisitions around the Salesforce consultancy ecosystem. IBM acquired Bluewolf, Accenture bought Cloud Sherpas and  CRMWaypoint, while Capgemini bought oinio.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

These moves have come as Salesforce has become an increasingly important part of digital transformation efforts, due to the strength of its CRM product, which has made it a core business component.

Now it would seem that Salesforce wants to be able to offer more of these consultancy services so that more of the work can be done by itself rather than others.

The last reporting of its financial results Salesforce saw a drop in its share price, something which financial analysts blamed on the large number of acquisitions breeding uncertainty.

During the latest earnings call Marc Benioff, Salesforce CEO, said that the merger and acquisition window would probably close at the end of this calendar year.

Topics in this article : , , , ,
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU