Wachtell, Lipton, Rosen & Katz and Morrison & Foerster are representing data visualization company Salesforce in its all-stock purchase of analytics platform Tableau in a deal valued at $15.7 billion.
The deal will help Salesforce expand its portfolio beyond customer relationship management software.
Wachtell Lipton’s team is led by corporate partners Andrew J. Nussbaum, Edward J. Lee,and Raaj S. Narayan. Three additional partners and six associates from the firms corporate, antitrust, tax, and executive compensation and benefits teams worked on the deal.
Lee also led a deal announced June 9 where United Technologies Corporation and Raytheon Company will combine in an all-stock merger of equals.
Under the agreement reached by Salesforce and Tableau, each share of Tableau Class A and Class B common stock will be exchanged for 1.103 shares of Salesforce common stock, representing an enterprise value of $15.7 billion, based on the trailing three-day volume weighted average price of Salesforce’s shares as of June 7, a press release said.
The transaction is expected to increase Salesforce’s FY20 total revenue by approximately $350 million to $400 million, the release said.
Under the deal, Tableau will remain headquartered in Seattle and will continue to be led by CEO Adam Selipsky and the current leadership team.
More than 86,000 organizations around the world, such as Charles Schwab, Verizon, Schneider Electric, Southwest, and Netflix, use Tableau to help them see and understand data.
“We are bringing together the world’s #1 CRM with the #1 analytics platform. Tableau helps people see and understand data, and Salesforce helps people engage and understand customers. It’s truly the best of both worlds for our customers—bringing together two critical platforms that every customer needs to understand their world,” said Marc Benioff, chairman and co-CEO of Salesforce.
(Added MoFo attorneys in 5th paragraph.)
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