This week, Salesforce announced that they have agreed to acquire San Francisco startup Krux to strengthen their data and analytics segment.
According to a report by the Wall Street Journal, Salesforce is paying about $700 million which will be split equally in cash and stock for the acquisition deal.
Alex Dayon, President of Salesforce said in an interview that Krux will supplement Salesforce’s increasing artificial intelligence capacity in its so-called marketing cloud.
Salesforce said that the acquisition will also allow joint customers of Salesforce and Krux to feed “billions of new signals” to Salesforce Einstein, a suite of AI-based tools for building predictive models.
Tom Chavez, CEO, Salesforce wrote on their blog :
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.