Salesforce (NYSE: CRM), the Customer Success Platform and the world's #1 CRM company, and Demandware (NYSE: DWRE), the industry-leading provider of enterprise cloud commerce solutions, today announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended on June 17, 2016, in connection with the previously announced proposed transaction under which Salesforce intends to acquire Demandware.
Through the proposed acquisition of Demandware, Salesforce will extend its CRM leadership and be well positioned to capture opportunities in the multi-billion dollar digital commerce market through a new Salesforce Commerce Cloud. The Salesforce Commerce Cloud will be an integral part of Salesforce's Customer Success Platform, which enables companies to connect with their customers one-to-one across sales, service, marketing, communities, analytics, the Internet of Things, apps and now commerce.
Under the terms of the proposed transaction, Salesforce has commenced a tender offer for all outstanding shares of Demandware for $75.00 per share in cash. The tender offer is scheduled to expire at 12:00 Midnight New York City Time, on Friday, July 8, 2016 (which is the end of the day on Friday, July 8, 2016), unless the tender offer is extended. The transaction is expected to close in the second quarter of Salesforce's fiscal year 2017, ending July 31, 2016, subject to the satisfaction of customary closing conditions, including the acceptance of a majority of Demandware shares in the tender offer. Following the successful completion of the tender offer, Demandware shares not tendered in the tender offer will be converted in a second step merger into the right to receive the same $75.00 per share in cash paid in the tender offer.
About Demandware Demandware, the category-defining leader of enterprise cloud commerce solutions, empowers the world's leading retailers to continuously innovate in our complex, consumer-driven world. Demandware's open cloud platform provides unique benefits including seamless innovation, the LINK ecosystem of integrated best-of-breed partners and community insight to optimize customer experiences. These advantages enable Demandware customers to lead their markets and grow faster. For more information, visitwww.Demandware.com,
About Salesforce Salesforce, the Customer Success Platform and world's #1 CRM company, empowers companies to connect with their customers in a whole new way.
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit http://salesforce.com
