Leaked Emails Suggest Twitter Was Never On Salesforce's M&A Radar
The Wall Street Journal reported Salesforce sent an internal slide presentation to its board members, which includes former Sectary of State Colin Powell.
Powell's e-mails were hacked and published by DCLeaks, an organization of "hacktivists" that targets government officials and prominent individuals.
A 60-page slide presentation titled "M&A Target Review" presented the case for acquiring 14 different companies, which included Adobe Systems Incorporated (NASDAQ: ADBE) and Pegasystems Inc. (NASDAQ: PEGA).
Other names in the presentation include Demandware, a company which Salesforce ended up acquiring for $2.8 billion. LinkedIn Corp (NYSE: LNKD) was also listed, but the social media company ultimately sold itself to Microsoft Corporation (NASDAQ: MSFT) instead.
The e-mail obtained by Powell was sent prior to a board meeting on May 20. It's possible the company began exploring an acquisition of Twitter later on. A Pegasystems spokesperson confirmed with WSJ it has never had any discussions with Salesforce regarding an acquisition even though it was listed as a potential target.
A Salesforce spokesperson also told WSJ that Adobe's inclusion in the list of potential targets appeared only as a "benchmark."
A separate e-mail sent to Powell on July 26 from Salesforce CEO Marc Benioff expressed his excitement after acquiring Quip for $582 million.
"I'm very excited about this acquisition," Benioff wrote. "We have been after this for three years."
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.