Salesforce adds to its $4 billion spending spree by quietly buying another company (CRM)
Salesforce just bought another company, its 3rd this month, after spending $4 billion on acquisitions over the past year.
Salesforce's latest acquisition is called Gravitytank, a Chicago-based consulting agency. The deal was announced through Gravitytank's website.
Salesforce's spokesperson confirmed the transaction but declined to disclose the price.
Gravitytank is slightly different from the types of companies Salesforce has been scooping up lately, which were mostly in the tech software and artificial intelligence spaces.
According to its website, Gravitytank is an "innovation consultancy" with a little over 70 people, a third of which are teaching at universities. The company was founded in 1999.
In any case, it's an interesting move given how most tech deals of this scale are done to acquire engineering talent.
It's also a sign that Salesforce CEO Marc Benioff won't stop his record-high acquisition spree anytime soon. During his most recent earnings call, Benioff hinted that the buying spree will likely continue through the end of the year.
"This M&A window, I talked about that I think on the last call, openly in the press, seems to have opened for the year. I think it will probably close, probably at the end of this calendar year. But it's been incredible time for us to acquire some phenomenal assets," he said.
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