Customer relationship management company Salesforce will acquire Tableau, a data analytics and visualization platform, for $15.7 billion in shares.
The transaction - which comes a week after Google Cloud announced it would acquire data analytics company Looker for $2.6 billion - has already been approved by the boards of directors of both companies.
Once the deal is finished, Tableau will continue to operate independently, remaining headquartered in Seattle with CEO Adam Selipsky staying at the helm.
"We are bringing together the world's #1 CRM with the #1 analytics platform," Marc Benioff, chairman and co-CEO of Salesforce, said.
"Tableau helps people see and understand data, and Salesforce helps people engage and understand customers. It's truly the best of both worlds for our customers - bringing together two critical platforms that every customer needs to understand their world."
The $15.7bn deal will involve all of Tableau’s Class A and Class B stocks being exchanged for 1.103 shares of Salesforce common stock. Salesforce has a market cap of approximately $125bn.
The acquisition is expected to be completed by November of this year, the end of Salesforce’s fiscal third quarter.
Last month, Salesforce suffered a major outage, with a faulty database script initially allowing Salesforce users in a company to see all of their company's data, whether they had permission to see it or not, followed by a lengthy outage that persisted from May 18th to 20th.