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Salesforce CEO Marc Benioff

Salesforce (CRM) announced plans to buy Tableau Software (DATA) in a $15.7 billion all-stock deal.

"Tableau helps people see and understand data, and Salesforce helps people engage and understand customers," said Salesforce CEO Marc Benioff in a statement.

Tableau shareholders will get 1.103 shares of Salesforce, according to the terms of the deal.

Stock in the data analytics company soared 34% in premarket trading, while Salesforce's slipped 3%.

The deal comes just a few days after Alphabet (GOOGL) said it has agreed to acquire Looker, a business intelligence platform, for $2.6 billion in cash. The acquisition will help bolster its cloud computing division by providing customers with more powerful data analytics.

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https://www.cnn.com/business/live-news/stock-market-news-today-061019/index.html

2019-06-10 12:09:00Z
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