Marc Benioff: Salesforce’s Mega Deals Are Over (For Now)

In an interview with Yahoo Finance's Executive Editor Brian Sozzi, Salesforce Co-Founder, Chairman and CEO Marc Benioff said the days of big acquisitions for the company are over, at least for now. After releasing its most recent earnings report, the company abruptly announced it was shuttering its mergers and acquisitions committee and focusing greater attention on profitability going forward. “We're going to have to slow down and mitigate what we've been doing with M&A, and so we disbanded our M&A committee to do that. We created a new Business Transformation Committee to focus on profitability” Benioff said. Tapping the breaks on big bucks acquisitions deals, and to drive profitability in the companies already part of Salesforce, were among the objectives of activist investors. Benioff told Yahoo Finance that some of its biggest acquisitions were key to boosting Salesforce’s bottom line: “We've done some great acquisitions here with MuleSoft and Tableau, both who had great quarters in the fourth quarter.” Salesforce’s recent acquisition spree has been critical to the company’s growth. It bought MuleSoft for $6.5B in 2018, Tableau for $15.7B in 2019, and then Salesforce’s biggest deal ever, Slack, for $27.7B in 2021. Read More...