Salesforce to buy data company Tableau for $15.7 billion

Tableau shares up 34% for the day

By Jordan Valinsky, CNN Business
Salesforce via CNN

Here's another sign of how hot cloud computing and Big Data are right now: Salesforce announced plans Monday to buy Tableau Software in a $15.7 billion all-stock deal.

"Tableau helps people see and understand data, and Salesforce helps people engage and understand customers," Salesforce CEO Marc Benioff said in a statement.

Tableau shareholders will get 1.103 shares of Salesforce, according to the companies.

News of the acquisition sent Tableau shares up 34% for the day, while Salesforce fell 5%.

The deal comes just a few days after Alphabet said it has agreed to acquire Looker, a business intelligence platform, for $2.6 billion in cash. The move will help bolster Google's cloud computing division by providing customers with more powerful data analytics.

At the moment, Amazon and Microsoft are generally seen as the two leaders in the market, with the success of their Amazon Web Services and Azure products, respectively. AWS brought in more than $25 billion in revenue in 2018. Alphabet does not break out cloud revenue.

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