Salesforce acquiring marketing data software company Krux
Salesforce is acquiring Krux, a San Francisco startup that uses artificial intelligence to target key audiences for marketers.
Salesforce is paying $700 million for the six-year-old company, half in cash and half in stock, according to the Wall Street Journal.
Krux is already a Salesforce partner with product integrations. Now, "Krux will extend the Salesforce Marketing Cloud's audience segmentation and targeting capabilities to power consumer marketing with even more precision, at scale," Krux CEO Tom Chavez wrote in a blog post. "In addition, Krux will feed Salesforce Einstein with billions of new signals, enabling companies to be even smarter about their customers."
Einstein, Salesforce's artificial intelligence platform, will touch every Salesforce cloud. The platform was built largely through acquisitions, as Salesforce has purchased nine AI-related companies in recent years.