Salesforce.com is recently on a buying spree to consolidate itself against bigger rivals and now is going to acquire Krux, a startup that makes marketing software for a total estimated price of $700 million.
Salesforce will pay $340 million in case and the remaining will be paid in the form of Salesforce shares. Krux makes cloud based software that helps companies in business of marketing and customer engagement.
Salesforce’s different announcements so far have indicated that the company is going to spend about $4 billion to compete against biggest rivals like Oracle, Microsoft and SAP which are encroaching upon its territory. Salesforce is also interested in buying Twitter which is currently valued at $17 billion. Earlier it lost a bid to Microsoft in buying the professional social network LinkedIn which Microsoft purchased for $26.2 billion.
Salesforce has said that the deal with Krux will close by Jan 31 if everything goes as planned. Krux was founded in 2010 and has some big name customers like JetBlue Airways, Kellogg and ConAgra Foods.