In a $1.33 billion cash deal, SalesForce has acquired Vlocity.
Vlocity is a firm that builds industry-specific CRMs using the Salesforce platform — (1) communications, media and entertainment, (2) insurance and financial services, (3) health, (4) energy and utilities, and (5) government and (6) nonprofits.
According to Brent Leary, principal analyst at CRM Essentials, “Salesforce has been beefing up their abilities to provide industry-specific solutions by cultivating strategic ISV partnerships with companies like Vlocity and Veeva…this move signals the importance of making these industry capabilities, even more, a part of the platform offerings.”
CEO David Schmaier stated that “[u]pon the close of the transaction, Vlocity — this wonderful company that we, as a team, have created, built, and grown into a transformational solution for six of the most important industries in the enterprise — will become part of Salesforce.”
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