Salesforce to Buy Tableau for $15.3 Billion in All-Stock Deal

(Bloomberg) -- (Updated with details on Class A, Class B shares, and debt)

• Salesforce agreed to acquire analytics platform Tableau in an all-stock transaction representing an equity value of $15.33 billion based on Salesforce’s closing price on June 7.

• Salesforce will acquire each share of Tableau Class A and Class B stock in exchange for 1.103 shares of Salesforce stock
  • Tableau has 75.8m Class A shares and 10.4m Class B shares (Bloomberg data)
  • The deal represents an enterprise value of $15.7 billion net of cash based on the trailing 3-day volume weighted average price of Salesforce’s shares as of June 7
  • Tableau has debt of about $269m as of March.31 (Bloomberg data)
• Following the close of the deal, Tableau will operate independently under the Tableau brand, remaining headquartered in Seattle and led by CEO Adam Selipsky and its current leadership team
• The acquisition is expected to be completed during Salesforce’s fiscal third quarter ending Oct. 31
• Salesforce sees the deal cutting its FY20 adjusted EPS outlook by 37c-39c to $2.51-$2.53
• Salesforce now sees FY20 revenue of $16.45 billion-$16.65 billion
• Bank of America Merrill Lynch is serving as exclusive financial adviser to Salesforce and Goldman Sachs is serving as exclusive financial adviser to Tableau

To contact the reporters on this story: Nick Lichtenberg in New York at nlichtenberg@bloomberg.net;Yueqi Yang in New York at yyang492@bloomberg.net

To contact the editor responsible for this story: Chakradhar Adusumilli at cadusumilli@bloomberg.net

©2019 Bloomberg L.P.