vlocity, salesforce acquisition

In Tuesdayâs down market, its shares fell 2.5% to $181.27. The big news that Salesforce acquired Vlocity for a $1.33 bil broke out just months before Covid-19. Since the launch of Financial Services Cloud (FSC) and Health Cloud in 2015, Salesforce has demonstrated a commitment to driving innovation at the industry level, and this acquisition doubles down on that strategy. Today, the company announced that â¦ When Salesforce announced it was acquiring Vlocity for $1.33 billion in February, it was a deal that made sense for both companies. November 26th, 2020 Posted by Dom Neau Media, News 0 thoughts on âWhat does Salesforceâs acquisition of Vlocity mean for the media industry?â Back on the 1 st of June, Salesforce finalised the acquisition of the ISV, Vlocity, for an impressive 1.33bn dollars. Acquiring Organization: Salesforce Salesforce is a global cloud computing company that develops CRM solutions and provides business software on a â¦ Salesforce gave us a barrage of news yesterday evening. Built natively on the Salesforce platform, Vlocity is a leading provider of industry-specific cloud and mobile software for the worldâs top companies in communications, media and entertainment, energy and utilities, insurance, health, and government organizations. Salesforce.com, Inc. is an American cloud-based software company headquartered in San Francisco, California. Salesforce Ventures invested in the company during both the Series A and Series C funding rounds. The clouds come quickly on the heels of the $1.3 billion Salesforce Vlocity acquisition, announced last February and completed in July. In total Vlocity raised $162.8 million in funding over four rounds including a seed round (Source: Crunchbase.com). Salesforce this week closed their acquisition of Vlocity. How Vlocity Works With Salesforce. Salesforce acquisition of Vlocity is expected to be wrapped up by the close of the second quarter. Vlocity was built in partnership with Salesforce, and is committed to innovation, customer success and a values-led culture. Salesforce has signed a definitive agreement to acquire Vlocity for $1.33 billion net of the shares already invested by Salesforce Ventures. Alongside the quarterly earnings, Salesforce also announced that Keith Block was stepping down from his position as Co-CEO, leaving Marc Benioff to hold the fort as sole CEO.. Today, we closed our acquisition of Vlocity. Vlocity Vlocity provides industry-specific cloud and mobile software that drives digital transformation for companies. About Salesforce . So, the billion-dollar question is: what made Salesforce acquire Vlocity? But in more exciting news, they also announced the acquisition of Vlocity â¦ Built natively on the Salesforce platform, Vlocity is a leading provider of industry-specific cloud and mobile software for the worldâs top companies in communications, media and entertainment, energy and utilities, insurance, health, and government organizations. âVlocityâs acquisition by Salesforce will give Salesforce just that â access to industry revenues through deeper inroads into key verticals.â Salesforce also announced Tuesday that co-CEO Keith Block is stepping down, leaving Marc Benioff to serve as chair and CEO of the company. The Salesforce acquisition of Vlocity will drive tremendous value for our clients and ultimately speed the pace of innovation for specific industries. Salesforce's acquisition of Vlocity is a sign of Saleforce's growing ambition to verticalise its business, enabling the company to provide highly specialised, industry-specific support for several key verticals. 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