Mulesoft Purchase Looks Expensive, But We See a Path to Accretion; Maintain $145 FVE for Salesforce
On March 20, Salesforce announced it had reached a definitive agreement in advanced talks to purchase integration platform-as-a-service provider Mulesoft. The $6.5 billion deal (depending on the price of Salesforce stock at the time of closing) will be financed with roughly 80% cash and 20% Salesforce stock, making this Salesforce’s largest acquisition to date. Salesforce plans to finance the cash portion of the deal using a combination of the firm’s $4.5 billion cash and investments war chest a...Salesforce.Com is engaged in customer relationship management technology. The company's Customer 360 is an integrated platform that unites sales, service, marketing, commerce, integration, analytics and more to give companies a single, shared view of their customers. Through its platform and other developer tools, the company also enables third parties to develop additional functionality and applications, or apps, that run on its platform, which are sold separately from or in conjunction with the company's service offerings. The company's cloud service offerings include sales cloud, service cloud, marketing and commerce cloud, and salesforce platform and other.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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