Parties
Company
Salesforce.com, Inc.
Company
Traction Sales and Marketing Inc. (dba Traction on Demand)
Salesforce, Inc. (NYSE) completed its acquisition of Traction Sales and Marketing Inc. on April 1, 2022, for a transaction valued at $340 million USD, equivalent to approximately $433 million CAD at the time. The deal included around $302 million USD (roughly $385 million CAD) in cash and the issuance of 48,670 Salesforce common shares. Initially announced on February 24, 2022, the acquisition aimed to strengthen Salesforce’s customer relationship management (CRM) offerings by leveraging Traction’s specialized sales and marketing expertise. Fasken Martineau DuMoulin LLP acted as legal advisor to Traction Sales and Marketing Inc., while Stikeman Elliott and Jane Ross of Hogan Lovells US LLP served as legal counsel to Salesforce. The transaction, completed after customary closing conditions, aligned with the first quarter of Salesforce’s fiscal year 2023.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
$ 433,000,000Deal Status
ClosedClosing Date
01 April 2022