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Salesforce-Demandware Deal Gets All Regulatory Approvals
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It now seems that salesforce.com Inc. (CRM - Free Report) will be able to complete the pending acquisition of Demandware within the stipulated time period, seeing that the companies have received all the required regulatory approvals. The deal is expected to close by the end of the second quarter of Salesforce’s fiscal 2017.
Last week, the transaction was granted a major regulatory approval by the U.S. Federal Trade Commission. On Jun 20, the companies jointly announced the early termination of the waiting period for a review of the transaction under the Hart-Scott-Rodino (HSR) Act.
Notably, the companies had inked a definitive agreement in the first week of June, under which Salesforce would acquire Demandware for approximately $2.8 billion. Under the terms, Salesforce will make a purchase offer of $75.00 per share in cash for all outstanding shares of Demandware.
Headquartered in Burlington, MA, Demandware specializes in providing support for websites, mobile applications and digital storefronts. Its offerings include Demandware Commerce Center, Demandware LINK, Development Platform and Commerce Cloud. The company’s customers consist of multinational corporations, retailers and branded consumer product manufacturers.
The acquisition is expected to add significant value to Salesforce's existing portfolio. Not only will it enhance the process efficiency of both the companies, but will also improve the CRM platform’s efficiency in handling sales, marketing and service functions.
Demandware’s digital marketing capability will enable Salesforce to create a strong marketing platform. The deal will boost Salesforce’s competitive advantage and help the company grab a significant market share from traditional software providers such as Oracle Corp (ORCL - Free Report) and SAP SE (SAP - Free Report) , both of which already offer cloud-based e-commerce services.
On the whole, the buyout is expected to help Salesforce cash in on the opportunities in the digital e-commerce marketing space. This is the largest acquisition that the company has made to date.
For Demandware too, the deal is expected to be quite beneficial, given the huge scope for growth. As Tom Ebling, the CEO of Demandware, put it, "Becoming part of Salesforce will accelerate our vision to empower the world's leading brands with the most innovative digital commerce solutions that enable them to connect 1:1 with customers across any channel."
Currently, both Salesforce and Demandware carry a Zacks Rank #3 (Hold).
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Salesforce-Demandware Deal Gets All Regulatory Approvals
It now seems that salesforce.com Inc. (CRM - Free Report) will be able to complete the pending acquisition of Demandware within the stipulated time period, seeing that the companies have received all the required regulatory approvals. The deal is expected to close by the end of the second quarter of Salesforce’s fiscal 2017.
Last week, the transaction was granted a major regulatory approval by the U.S. Federal Trade Commission. On Jun 20, the companies jointly announced the early termination of the waiting period for a review of the transaction under the Hart-Scott-Rodino (HSR) Act.
Notably, the companies had inked a definitive agreement in the first week of June, under which Salesforce would acquire Demandware for approximately $2.8 billion. Under the terms, Salesforce will make a purchase offer of $75.00 per share in cash for all outstanding shares of Demandware.
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Headquartered in Burlington, MA, Demandware specializes in providing support for websites, mobile applications and digital storefronts. Its offerings include Demandware Commerce Center, Demandware LINK, Development Platform and Commerce Cloud. The company’s customers consist of multinational corporations, retailers and branded consumer product manufacturers.
The acquisition is expected to add significant value to Salesforce's existing portfolio. Not only will it enhance the process efficiency of both the companies, but will also improve the CRM platform’s efficiency in handling sales, marketing and service functions.
Demandware’s digital marketing capability will enable Salesforce to create a strong marketing platform. The deal will boost Salesforce’s competitive advantage and help the company grab a significant market share from traditional software providers such as Oracle Corp (ORCL - Free Report) and SAP SE (SAP - Free Report) , both of which already offer cloud-based e-commerce services.
On the whole, the buyout is expected to help Salesforce cash in on the opportunities in the digital e-commerce marketing space. This is the largest acquisition that the company has made to date.
For Demandware too, the deal is expected to be quite beneficial, given the huge scope for growth. As Tom Ebling, the CEO of Demandware, put it, "Becoming part of Salesforce will accelerate our vision to empower the world's leading brands with the most innovative digital commerce solutions that enable them to connect 1:1 with customers across any channel."
Currently, both Salesforce and Demandware carry a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>