View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cloud
August 2, 2016

Salesforce buys Quip for $582 million

News: Acquisition will boost Salesforce's mobile offering.

By James Nunns

Salesforce has again decided to splash the cash in order to boost its portfolio this time with the acquisition of productivity software maker Quip.

The deal, which will be for $582 million in stock, will add to Salesforce’s portfolio a number of programs for creating documents and spreadsheets.

Quip’s products are designed for collaboration using mobile devices, something which should be a boost to the CRM vendor as it looks to advance its mobile offering.

Another angle to the deal is that Quip is a competitor of Microsoft Office and Alphabet’s Google Docs.

Salesforce has in place a “strategic partnership” with Microsoft in which there is a Salesforce integration in Outlook. It is perhaps unlikely that Salesforce would use the acquisition to take on Microsoft, instead it is probable that Quip will be used to enhance existing offerings.

For Quip the deal will see it be able to significantly expand its reach in the market. Bret Taylor, Quip founder, said: “As part of Salesforce, we will be able to expand our service more quickly and reach millions of people all over the world.”

Quip was founded in 2012 and its founder Bret Taylor previously helped co-create Google Maps and worked as chief technology officer at Facebook. The company has raised $46m in venture funding, according to VentureSource.

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?

Quip said: “Salesforce and Quip share the same philosophy about software: it should be in the cloud, built for the mobile era, and be inherently social. Salesforce pioneered the shift to enterprise cloud computing—and Quip has been working since 2012 to re-imagine a productivity platform for teams that allows them to be more connected, more collaborative and get more work done.”

This is the third acquisition that Salesforce has made in the past two months. Although it missed out on LinkedIn it bought Demandware for $2.8bn at the start of June and Coolan on July 22nd for an undisclosed fee.

Coolan will help Salesforce to build tools that track infrastructure reliability while the Demandware acquisition will boost the Salesforce Commerce Cloud.

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