What: San Francisco data management platform Krux is being acquired by Salesforce in a deal valued around US$700 million in cash and stock.
Why it matters: Krux will allow Salesforce to extend its audience segmentation and targeting for brands. Krux’s clients include Kellogg’s, ConAgra, Time Warner and JetBlue.
San Francisco-based company Krux has entered into a definitive agreement to be acquired by Salesforce for the estimaded price of US$700 million in cash and stock, according to Forbes. Salesforce will pay US$340 million in cash and additional stock options.
The agreement brings together Salesforce’s CRM platform with Krux’s category-data management platform (DMP), the Intelligent Marketing Hub™.
Krux will work closely with the Salesforce team to create integrations.Krux will extend the Salesforce Marketing Cloud’s audience segmentation and targeting capabilities to power consumer marketing with even more precision, at scale. In addition, Krux will feed Salesforce Einstein with billions of new signals, enabling companies to be even smarter about their customers. Krux and Salesforce together will empower every company to deliver more relevant and valuable consumer experiences across every touchpoint.
Founded in 2010, Krux had raised more than US$48 million from outside investors across several funding rounds, including from Accel Partners, IDG Ventures and Sapphire Ventures. The company operated 10 offices as of January 2016 and worked with clients including Kellogg’s, ConAgra, Time Warner and JetBlue.
“Becoming part of Salesforce is great news for our current and future clients, our partner network and our employees. Being part of Salesforce gives us the opportunity to pursue our mission of driving more relevant and valuable consumer experiences by putting people data to work, with greater reach and impact than ever before. We will continue to deliver world-class enterprise data infrastructure and breakthrough business results for our clients. We’ll now be able to do so faster by leveraging the global reach and resources of Salesforce,” sources from Krux said in a company statement.
Jon Suarez Davis, Chief Marketing and Strategy Officer at Krux Digital – Krux Digital, spoke at the 2015 edition of #PortadaLat when he was VP Global Media & Strategy at Kellogg, the job he had prior to his current position at Krux.