Demandware Soars 55% After Company Agrees To Sell Itself To Salesforce For $75 Per Share

Shares of

soared higher by more than 55 percent early Wednesday morning after the company

to

for $75 per share, or $2.8 billion. Shares of Demandware closed for trading at $48.00 on Tuesday. The company is an industry-leading provider of enterprise cloud commerce solutions. Salesforce noted that the acquisition will extend its CRM leadership and position it to better capture the multi-billion dollar digital commerce market with its new Salesforce Commerce Cloud. The company added that Demandware's customers will now be able to leverage its leading sales, services, marketing, communities, analytics, Internet of Things (IoT) platform solutions to deliver a better consumer experience. "Demandware is an amazing company—the global cloud leader in the multi-billion dollar digital commerce market," said Marc Benioff, chairman and CEO, Salesforce. "With Demandware, Salesforce will be well positioned to deliver the future of commerce as part of our Customer Success Platform and create yet another billion dollar cloud." "Demandware and Salesforce share the same passionate focus on customer success," said Tom Ebling, CEO, Demandware. "Becoming part of Salesforce will accelerate our vision to empower the world's leading brands with the most innovative digital commerce solutions that enable them to connect 1:1 with customers across any channel."