During a keynote at the Dreamforce 2023 conference, Salesforce CEO Marc Benioff announced the company’s $1.9 billion cash acquisition of Own Co., a startup specializing in cloud-based data backup tools, with plans to close the deal by January 2025 pending regulatory approval. The move marks a return to significant acquisitions for Salesforce after a period of caution following scrutiny over previous expensive purchases like MuleSoft and Slack. The acquisition reflects a broader trend in the software industry of consolidation and focus on profitability amid a more challenging market landscape for cloud companies.
Source link
Did Nike's Turnaround Just Begin?
Nike (NYSE: NKE) experienced a significant 16% stock surge following its fiscal fourth-quarter earnings report, marking its largest one-day gain in several years. Despite a 12% revenue decline to $11.1 billion and a drop in earnings per share to $0.14, the company exceeded expectations, particularly with its optimistic guidance for the upcoming fiscal year. Explain It To Me Like I'm 5: Nike's stock went up a lot after they shared news that made people think...
Read more