Salesforce to buy MuleSoft for $5.9 billion [Reuters]
MULESOFT INC (MULE)
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Source: Reuters
Salesforce to buy MuleSoft for $5.9 billion | Reuters Reuters Staff 3 Min Read (Reuters) - Salesforce.com Inc ( CRM.N ) said on Tuesday it would buy U.S. software maker MuleSoft Inc ( MULE.N ) for about $5.90 billion in a cash-and-stock deal, illustrating CEO Marc Benioff’s push to bolster the company’s cloud-based portfolio with new technology. MuleSoft shareholders would get $36 in cash and 0.0711 of a Salesforce share, or $44.89 per share, representing a premium of 36 percent to Mulesoft’s Monday close. MuleSoft shares were up 5 percent in extended trading after rising 27 percent during the day. Salesforce shares were down more than 2 percent after the bell. Including debt, the deal was valued at $6.5 billion, the companies said in a joint statement. “It is really a natural fit for Salesforce to own Mule,” Steve Koenig, analyst at Wedbush Securities said. “Salesforce usually helps customers move to the cloud and digitally transform their business that often starts with CRM, so
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