The $15.7 billion all-stock acquisition of data visualization firm Tableau by Salesforce is complete, after clearing the regulatory process, according to an announcement by the acquirer. The deal was announced in June and is the biggest acquisition in Salesforce history, reported TechCrunch.
The deal marks a continuation of the client relationship management system (CRM) provider moving into data analytics, according to another TechCrunch report. With firms like Focus Financial partnering with business intelligence platform HiddenLevers, players in the wealth management industry are already moving to better understand data generated and captured in the space. “Tableau will make Salesforce Customer 360, including Salesforce’s analytics capabilities, stronger than ever, enabling our customers to accelerate innovation and make smarter decisions across every part of their business,” said Keith Block, co-CEO of the firm, in a statement.
The acquisition could give Salesforce “another broad path into larger and more expansive enterprise sales,” concluded TechCrunch. The acquisition will also boost wealth management-focused analytics solutions like Einstein Analytics, according to the announcement.