FILE PHOTO – The Salesforce logo is pictured on a building in San Francisco, California, U.S. October 12, 2016. REUTERS/Lily Jamali
March 20, 2018
(Reuters) – Salesforce.com Inc <CRM.N> said on Tuesday it would buy software maker MuleSoft Inc <MULE.N> for about $6.5 billion, including debt, just a year after the software company went public.
MuleSoft shareholders would get $36 in cash and 0.0711 of a Salesforce share, or $44.89 per share. The per-share price represents a premium of 36 percent to Mulesoft’s Monday close.
MuleSoft shares were up 4.5 percent in extended trading after rising 27 percent during the day. Salesforce shares were down 2 percent after the bell.
Excluding debt, the deal was valued at $5.90 billion, according to Reuters’ calculation.
MuleSoft listed on the New York Stock Exchange on March 17 at $17 apiece. It closed up 40 percent on the first day of trading, giving it a market value of nearly $3 billion.
Reuters had reported about the deal earlier on Tuesday.
Salesforce Ventures, the company’s venture capital arm, led a $128 million funding round in MuleSoft in 2015.
MuleSoft, which makes software that automatically integrates disparate data, devices and applications to help businesses networks run faster, counts Coca-Cola Co <KO.N>, McDonald’s Corp <MCD.N>, Salesforce and Spotify <SPOT.N> among its customers.
BofA Merrill Lynch is Salesforce’s financial adviser and Goldman Sachs advised MuleSoft.
(Reporting by Supantha Mukherjee in Bengaluru; Editing by Shounak Dasgupta)
