US cloud software giant Salesforce (NYSE: CRM) announced that it has signed a definitive agreement to acquire Israeli data management company Unstructured Data Zoom inNo financial details were disclosed, but estimates put the value of the acquisition at between $400 million and $500 million. The acquisition comes less than three weeks after Salesforce acquired Israeli data protection company king For $1.9 billion.
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The acquisition is intended to enhance the capabilities of Salesforce’s chatbot offering to its customers in order to increase sales and customer satisfaction. Zoominfo will make Salesforce’s intelligent chatbot services more knowledgeable about customers and better equipped to engage with them according to their characteristics and meet their needs.
Zoomin was founded in 2007 by CEO Gal Oron, a former M&A director at Verint, and Hanan Saltzman, a former executive at Nice Systems. It is one of the oldest startups in the Israeli market.
The company has raised $73 million to date from investors including Bessemer Partners, General Atlantic, Viola Growth and Salesforce’s venture capital arm, which invested in the company in 2018. According to IVC, the company has 170 employees, including 70 in Israel.
“We are humbled and excited to join Salesforce,” said Oron. “It’s a natural progression of our long-standing and evolving partnership. As organizations accelerate their transformation to AI across their enterprise, our shared mission is to support them and ensure that AI never reaches the data wall. As part of the #1 AI CRM, we will enable customers to leverage their existing enterprise data in ways they never imagined possible.”
This article was published in Globes, Israeli Business News – en.globes.co.il – on September 25, 2024.
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