Salesforce announced an agreement on Tuesday to buy Mulesoft in an enterprise technology merger that would value Mulesoft at $6.5 billion.
Salesforce will pay $44.89 per share for Mulesoft, a 36 percent premium — each Mulesoft share will equal $36 in cash and 0.0711 shares of Salesforce common stock, the companies said. The deal is expected to close by the end of July.
Mulesoft makes a platform that helps Fortune 500 companies stitch together disparate software applications, data, and devices. Salesforce CEO Marc Benioff said in a statement that the merger will help Salesforce users unite data across different cloud products.
Mulesoft had one of the best opening IPO days of 2017 when it went public a year ago on the New York Stock Exchange. Prior to its public offering, Mulesoft raised money from Salesforce Ventures.
Mulesoft shares rose 4.3 percent after hours, after rising more than 27 percent during the regular trading session, after Reuters reported the two companies were in “advanced talks” on a deal.