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...Plus, Salesforce had made some pricey if questionable acquisitions on companies such as Slack, Tableau Software, and Mulesoft....
...The former chief executives of Tableau and MuleSoft are also still with the company....
...It acquired Tableau Software, which makes data analytics software, for about $16bn in 2019 and a year earlier the company took over network software maker Mulesoft for $6.5bn....
...At around 25 times expected revenue next year, the price was a big step up from 16 times Salesforce paid for MuleSoft in what was considered a very high-priced deal two years ago, he added....
...Pointing to the $20bn Salesforce spent on buying Mulesoft and Tableau since 2018, he added that the deals would have been prohibitively expensive in the current market....
...In June, it unveiled a $15.7bn bid for Tableau Software, after it paid $6.5bn for Mulesoft last year....
...Last year it paid close to $7bn for Mulesoft, a price tag about 20 times higher than the company’s trailing revenues. And Tableau is a better fit than the company’s attempted purchase of Twitter....
...Last year, it paid $6.8bn for Mulesoft, a data integration platform. Mr Benioff has attracted attention for aggressive acquisitions, even mulling a bid for Twitter....
...Salesforce has been acquisitive this so far this year, buying Mulesoft in March for $6.5bn, its largest acquisition to date....
...analyst at Nomura, said that the premium paid for Red Hat was “obviously rich”, but added the multiple of sales that IBM was paying was lower than in Microsoft’s GitHub deal or Salesforce’s acquisition of Mulesoft...
...Mulesoft counts Coca-Cola, Barclays and Unilever among its biggest clients....
...More instructive than Dropbox, therefore, is Salesforce’s pricey $6bn acquisition of Mulesoft, announced on Wednesday evening. Mulesoft itself went public a year ago this week....
...By contrast, Floor & Décor Holdings, a retailer of hard floor covering through warehouse style stores; Mulesoft, a software “unicorn”; Snap, the owner of the Snapchat app; and Canada Goose, a maker of luxury...
...Other recent tech IPOs, such as Snap and Mulesoft, have also produced juicy first-day trading pops....
...Other successful deals this year include Canada Goose, the maker of luxury outerwear; and Mulesoft, a software unicorn....
...Successful listings such as those by Snap and Mulesoft — a software company that traded at $22 a share last week against its issue price of $17 — are also fuelling demand for new deals....
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