Get Ready For Salesforce, Taleo And NetSuite Buyouts In 2012
As mobility and flexibility have changed the workplace paradigm, the need for cloud-based storage and software has flourished. This expansion has crossed over into software development as large companies look to add strategic elements to their subscriber-based platforms. This is especially true in the customer relationship management arena, where analysts are starting to view Salesforce.com (CRM) as the next buyout target. Founded in 1999 by Marc Benioff, Parker Harris, Frank Dominguez and Dave Moellenhoff, Salesforce has specialized in offering software as a service. (SaaS) Salesforce went public in 2004, and has developed into a powerful company that currently has a market cap of $14.2 billion and fiscal year 2011 revenue of $1.66 billion. The company has been trading over $100 per share, with its current 52-week range falling between $102 and $160.