A PYMNTS Company

US: Salesforce.com buys Salesforce.org

By  |  April 16, 2019

Salesforce announced a move to reposition how it provides software to and works with nonprofits like educational institutions and charities: the company announced that it would integrate Salesforce.org, which had been a reseller of Salesforce software and services to the nonprofit sector into Salesforce itself as part of a larger, reported TechCrunch.

As part of the deal, Salesforce stated it would pay US$300 million in cash for all shares of Salesforce.org. The latter had existed as a California public benefit corporation, and now it will be converting into a California business corporation.

Salesforce said that the US$300 million, in turn, will be distributed to another independent public benefit corporation called the Salesforce.com Foundation, which will use it for philanthropic purposes. Salesforce will be making further contributions to the Foundation, but did not specify the amount.

Full Content: Tech Crunch

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.