Software Giant Salesforce Defending Itself From Hostile Takeover

Software Giant Salesforce Defending Itself From Hostile Takeover

In a sign of just how hot things are in the cloud software space Salesforce, a company worth $44 billion, has hired financial advisers to field takeover offers Bloomberg has reported.

It's unknown who the takeover offers are coming from, but the deal would be the largest software company to get acquired in history.

Salesforce shares soared after the news hit the wires and were up almost 13%.

The company who acquires Salesforce would immediately become a market leader in the cloud CRM space.

The most logical buyers for Salesforce would be Oracle, SAP, and Microsoft. These big enterprise software companies have the cash and are in direct competition with Salesforce in the CRM space.

Founded in 1999, Salesforce has been the leader in the enterprise cloud software market. Its main product is Customer Relationship Management software, which helps salespeople track leads and optimize sales strategies.

In its latest quarter, Salesforce had $1.44 billion in revenue, up 26% from last year. For the whole year, it earned $5.37 billion, up 32% from the year before.

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