Enterprise software company Salesforce.com (NYSE: CRM) is reportedly expected to buy Canadian shared-Web start-up GoInstant for more than $70 million, as the cloud-computing company best known for its customer relationship management (CRM) platform seeks to expand its collaboration offerings.
The expected acquisition was reported Monday by The Wall Street Journal, citing unnamed sources familiar with the deal.
Nova Scotia-based Golnstant, founded in 2010, has developed technology that allows people in different locations to browse websites together without a plug-in or added software.
Acquisition of GoInstant would seem to further Salesforce.com's effort to bolster its social-enterprise holdings. On its website, Salesforce.com declares itself "the enterprise cloud computing company that is leading the shift to the Social Enterprise."
In May, San Francisco-based Salesforce.com, a 13-year-old S&P 500 company, bought social-enterprise software maker Buddy Media and online collaboration platform developer Stypi. In 2011, Salesforce.com acquired six companies, including the performance-management company Rypple.
GoInstant, which lists just a dozen employees on its website, was funded with $1.7 million raised from such prominent Silicon Valley technology figures as Reid Hoffman, founder of LinkedIn Corp. (NYSE: LNKD) and Chamath Palihapitiya, a former vice president at Facebook (Nasdaq: FB), in addition to investments from venture-capital firms including Baseline Ventures, Freestyle Capital and Innovacorp.
- read the WSJ article (sub. req.)
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