BreakingSalesforce Buys Marketing Analytics Company Datorama for Over $800 Million
Salesforce will pay over $800 million in cash for Datorama, according to two people familiar with the matter
Customer service software juggernaut Salesforce.com Inc. has signed a definitive agreement to buy Israel-based marketing analytics company Datorama Ltd, both companies said in blog posts published Monday.
Salesforce will pay over $800 million in cash for Datorama, according to two people familiar with the matter.
Asked to comment about the terms of the deal, a Salesforce spokesman said the company is "not disclosing any additional details about the transaction at this time" in an email sent to Calcalist Monday.
On its blog, the company said Datorama’s data integration and marketing intelligence services will be integrated into Salesforce’s Marketing Cloud product.
“With one unified view of data and insights, companies can make smarter decisions across the entire customer journey and optimize engagement at scale,” the post says.
Datorama’s blog post said the deal would benefit its 3,000 customers which include some of the world’s most visible brands.
Datorama develops artificial intelligence-powered marketing analytics software which has been integrated into Amazon’s voice-activated assistant Alexa. Headquartered in New York, Dataroman was founded in 2012 by Israeli entrepreneurs Ran Sarig, Katrin Ribant, and Efi Cohen.
The company employs more than 300 people at its New York office, its research and development center in Israel, and in offices in 16 other cities worldwide. The company previously raised $50 million from Lightspeed Management Company LLC, Marker LLC, and Innovation Endeavors.
San Francisco-headquartered Salesforces signs the acquisition agreement as it stock price nears an all-time high. The customer relationship management company said the Datorama deal builds on its partnership with Google Analytics 360 and the work on Salesforce’ artificial intelligence engine known as “Einstein.”