Acquires RelateIQ for $390M

According to a blog post, RelateIQ, a Palo Alto, Calif.-based provider of a platform to improve business relationships, is to be acquired by (NYSE: CRM).

According to a regulatory filing, the amount of the deal is about $350m in stock and $40m to cover the expected cash on hand on August 1, 2014.

For, the acquisition will extend the value of its CRM apps and platform with a new level of intelligence across sales, service, and marketing. Following the transaction, RelateIQ will continue to deliver the product.

Co-founded by Steve Loughlin, CEO, and Adam Evans, CTO, the company provides a solution for professionals to build better relationships and make fact-based decisions. It automatically logs relevant activity from email accounts, calendars, social networks, and mobile phone calls, creating a source of information that users can share with the team.
RelateIQ is backed by Redpoint Ventures, Kleiner Perkins Caufield & Byers, Accel Partners and Formation 8.



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