Salesforce to acquire marketing automation provider Braze for $5.66B
Article excerpt
Highlighted: the sentence this signal was extracted from
Salesforce Inc. today announced plans to acquire Braze Inc. for $5.66 billion in cash. The deal values the marketing software provider at $47.5 per share, which is about 58% higher than its last closing price. The steep premium is a reflection of Braze's strong finances. The company's revenue grew 26% year-over-year last quarter, to $227.2 million, while its adjusted operating income nearly quadrupled. Enterprises often spread their customer records across multiple systems, which makes them difficult to analyze. Braze offers a cloud platform that can aggregate customer data into a centralized repository to ease processing. It collects the information using more than 190 pre-packaged connectors. The platform organizes the data that it ingests into a standardized format using user-created scripts. From there, it groups customers with similar interests into segments. An electronics retailer, for example, could create a segment that includes all the shoppers who have bought smartphones via its website. Braze enables companies to create personalized marketing campaigns for every customer segment. A set of built-in artificial intelligence features, BrazeAI, automatically creates campaign materials such as promotional emails. It customizes the content based on parameters such as product availability and a customer's purchase history. A feature called Agentic Standards enables users...
Keep reading with a free account
The rest of this article, and every signal for Salesforce, is in your free account.