Salesforce.com Inc. has agreed to acquire Krux, a data-management startup that will help boost Salesforce's cross-device marketing and advertising analytics capabilities.
Krux, which uses machine learning to analyze data across a variety of devices, will allow Salesforce to extend its audience segmentation and targeting for brands. Krux's current clients include Kellogg's, ConAgra, Time Warner and JetBlue.
In a Securities and Exchange Commission filing today, Salesforce said it will pay around $340 million in cash for the 6-year-old company, along with additional stock options. (The Wall Street Journal, citing anonymous sources, reported the total value of the deal is around $700 million.)
Krux isn't the first company acquired by Salesforce this year. In June, Salesforce acquired Demandware, the digital-commerce company, for $2.8 billion.
"We're trading gas for rocket fuel," Krux CEO and co-founder Tom Chavez wrote in a blog post announcing the acquisition. "Becoming part of Salesforce is great news for our current and future clients, our partner network and our employees. Being part of Salesforce gives us the opportunity to pursue our mission of driving more relevant and valuable consumer experiences by putting people data to work, with greater reach and impact than ever before."