Salesforce has announced the purchase of Vlocity for $1.33 billion
“Based on the Salesforce platform, Vlocity is a leading provider of industry-specific cloud and mobile software for the world’s leading communications, media and entertainment companies, energy, utilities, insurance, healthcare and government organizations.” So the official description of Vlocity on their website.
Analysts say about this purchase
Rob Oliver, analyst at Baird: “The acquisition of Vlocity provides assurance that Salesforce will continue to pursue specific industries even after Keith Block leaves the company.” He added that Salesforce has acquired “one of the best vertical players on the Salesforce platform.
Rebecca Wetteman, analyst at Valoir, said, “While the acquisition is significant, it comes as no surprise because Vlocity is built on the Salesforce platform and the two companies have worked together for years.
Arjun Bhatia, an analyst at William Blair, said that while Salesforce has a strong vertical strategy all to itself, Vlocity has more “out-of-the-box” tools that Salesforce would otherwise have to develop itself.
Currently, Salesforce offers specific versions of its products for the financial services industry, healthcare, and government. With the purchase of Vlocity, Salesforce can further develop the existing industry solutions and extend them to other industries.