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News : Salesforce and Demandware Announce Early Termination of Hart-Scott-Rodino Waiting Period
San Francisco, CA and Burlington, MA, USA, June 20, 2016 -- Salesforce (NYSE: CRM), a Customer Success Platform and CRM company, and Demandware (NYSE: DWRE), a industry- provider of enterprise cloud commerce solutions, 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 be well positioned to capture opportunities in the 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. 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.
Posted by Veronica Silva Cusi, news correspondent
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More Editorial From SalesForce
Salesforce.com delivers software-as-service offering a family of on demand solutions for integrated sales force automation, campaign management, customer service and support, and document and file management to help companies meet the complex challenges of global customer communication. The company has introduced sforce, a new service that will change how applications are built as significantly as salesforce.com changed how applications are delivered.
About Demandware :
Demandware, is a provider of enterprise cloud commerce solutions, empowering retailers to continuously innovate in our complex, consumer-driven world.
Published: Tuesday, June 21, 2016