The Channel logo


By | Kat Hall 24th December 2015 13:07

Salesforce forks out $360m, slips SteelBrick in its Christmas stocking

Might need to wait until Easter to open it though

Salesforce has bought itself an early Christmas present in the form of a $360m (£241m) acquisition of subscription billing apps biz SteelBrick. The acquisition is expected to be wrapped up by April 2016.

Salesforce is already familiar with the company's business, having poured $18m (£12m) into its coffers during a 2015.

SteelBrick closed a $48m funding round in October, which included “substantial participation” from Salesforce Ventures, according to TechCrunch.

Salesforce has been going for 16 years and continues to put expansion over turning a profit.

Salesforce is clearly keen to get its hand on more cloudy upstarts. Back in October Salesforce Ventures slapped a $100m (£66m) investment fund on the table for European upstarts.

SteelBrick CEO Godard Abel said: "We have witnessed how Salesforce has pioneered the shift to enterprise cloud computing and set the standard for customer success in the industry."

He added: "Many of our team members have already enjoyed growing their careers in the vibrant Salesforce ecosystem as customers and partners for many years, and we're excited to join Salesforce." ®

comment icon Read 2 comments on this article or post a comment alert Send corrections


Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella

Chris Mellor

Thousands of layoffs announced as spinning rust enters its death spiral


STRASBOURG, JUNE 29, 2016: The seat of the European Parliament. by Marco Aprile for shutterstock. EDITORIAL USE ONLY
Plan b, image via Shutterstock
EU workers, new markets: post-Brexit pressure on May & Co
Tough question, pic via Shutterstock
Honest mistake with your licensing? Audit police look at it on a 'case by case basis'