Categories: CloudCloud Management

Salesforce Buys Cloud-Based Word Processor Quip In £442m Deal

Salesforce has bought cloud word processing app Quip as the CRM provider continues to add cloud services to its portfolio.

Quip was founded in 2012 by ex-Facebook CTO Bret Taylor and Google App man Kevin Gibbs. The Quip app touts itself as a ‘collaboration’ platform, and already has several high profile customers, including Facebook itself.

The purchase looks to be upwards of around $582 million (£442m), and includes cash and shares, according to this Salesforce 8-K filing.

Quip expansion

In a blog post announcing the news, Quip said it is excited to continue growing and expanding its offerings as part of Salesforce.

“Salesforce and Quip share the same philosophy about software: it should be in the cloud, built for the mobile era, and be inherently social. Salesforce pioneered the shift to enterprise cloud computing—and Quip has been working since 2012 to reimagine a productivity platform for teams that allows them to be more connected, more collaborative and get more work done,” said Quip.

Quip has done well in the venture capital world, raising $45 million in funding so far.

“We’re inspired by the possibilities ahead of us. As part of Salesforce, we will be able to expand our service more quickly and reach millions of people all over the world — which has been our mission since day one,” read the blog post.

“And, we’ll be able to extend the Salesforce Customer Success Platform in powerful new ways with our next-generation productivity capabilities. The possibilities of mixing data, content and communication are amazing.”

With Salesforce already hooking its CRM up with Microsoft’s Outlook, the final resting place for Quip is not yet known. On Twitter, Bret Taylor said that the purchase will improve Quip’s future, however.

The deal is expected to close on October 31, in Salesforce’s third quarter.

Take our ARM quiz here!

Ben Sullivan

Ben covers web and technology giants such as Google, Amazon, and Microsoft and their impact on the cloud computing industry, whilst also writing about data centre players and their increasing importance in Europe. He also covers future technologies such as drones, aerospace, science, and the effect of technology on the environment.

Recent Posts

Microsoft Criticised For ‘Workplace Surveillance’ Feature

Microsoft 365 Productivity Score feature, introduced last month, criticised for analysing 'extensive data' on individual…

12 hours ago

Facebook Removes Thousands Of Illegal UK Ads

Facebook removes more than 2,000 ads exploiting health fears and selling dubious Covid-19 cures in…

13 hours ago

Huawei Founder Calls Honor Sale A ‘Clean Break’

Sell-off of Honor consumer brand should allow newly independent company to 'very quickly' resume production…

14 hours ago

European Commission Approves French Fibre Acquisition

Altice/SFR gets the go-ahead to buy wholesale rival Covage, but will spin off its fibre-to-the-office…

14 hours ago

Disruption Continues Two Weeks After Manchester United Cyber-Attack

Manchester United has confirmed it was struck by a 'sophisticated' cyber-attack but declined to comment…

15 hours ago

Government Told To Open Up On AI Decision-Making

Government advisory body publishes roadmap to 'responsible' use of AI and algorithms, following summer chaos…

15 hours ago