Salesforce to Buy Demandware in $2.8 Billion Transaction

June 1, 2016 12:11 PM

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Salesforce.com Inc., which sells business productivity software, agreed to buy Demandware Inc., a provider of cloud-commerce services, in a transaction worth about $2.8 billion.

Under the terms of the agreement, Salesforce will start a tender offer for all outstanding Demandware shares for $75 each in cash, the companies said in a statement Wednesday. The transaction is expected to close in the second quarter of Salesforce’s fiscal year 2017.

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