Tableau shareholders will be given 1.103 shares in Salesforce, valuing the offer at $177.88 per share, a 42 per cent premium on Tableau’s closing price on Friday.
Salesforce said the mammoth takeover will bolster its data offering for businesses, giving clients more information, insights and analytics.
“Salesforce’s incredible success has always been based on anticipating the needs of our customers and providing them the solutions they need to grow their businesses,” said Salesforce co-chief executive Keith Block.
“Data is the foundation of every digital transformation, and the addition of Tableau will accelerate our ability to deliver customer success by enabling a truly unified and powerful view across all of a customer’s data.”
Shares in Salesforce slipped almost five per cent in pre-market trading, while Tableau soared more than 30 per cent.
“Joining forces with Salesforce will enhance our ability to help people everywhere see and understand data,” said Adam Selipsky, president and chief executive of Tableau. Read more: AI startup Onfido tops $100m investment as it closes $50m funding round
The takeover is expected to complete before the end of October.