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.

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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.