Zinger Key Points
- Salesforce's acquisition of Tenyx aims to enhance its AI-driven customer service tools.
Salesforce, Inc. CRM shares are trading marginally lower on Wednesday.
According to Benzinga Pro, CRM stock has gained over 13% in the past year. Investors can gain exposure to the stock via iShares Expanded Tech-Software Sector ETF IGV and REX FANG & Innovation Equity Premium Income ETF FEPI.
Salesforce has finalized an agreement to acquire Tenyx, a company specializing in AI-driven voice agents that enhance customer service with natural, engaging conversations. The terms of the deal were not disclosed.
In a press release yesterday, the company said that once the acquisition is complete, Tenyx will enhance Salesforce’s autonomous agent capabilities for Agentforce Service Agent by integrating its advanced voice AI solutions, which are designed for service applications.
Tenyx’s co-founders, Itamar Arel, CEO, and Adam Earle, CTO and team will join Salesforce, helping to build the future of Salesforce’s Agent offerings, upon the close of the acquisition.
Last year, Salesforce, facing pressure from activist investors, announced plans to double its share buybacks and move away from further acquisitions after dissolving its mergers and acquisitions committee, per Reuters.
The San Francisco-based company is now revisiting acquisitions to boost its revenue growth. This strategy mirrors recent actions by tech giants, reflecting heightened competition for AI tools and talent.
Salesforce’s acquisition of Tenyx underscores its commitment to revolutionizing customer service through AI, reflecting its dedication to delivering next-generation customer service solutions, the company said.
The acquisition is expected to close in the third quarter of Salesforce’s fiscal year 2025, ending October 31, subject to customary closing conditions.
Last week, Salesforce reported second-quarter revenue of $9.33 billion, beating the consensus estimate of $9.23 billion. The enterprise cloud solutions company reported adjusted earnings of $2.56 per share, beating analyst estimates of $2.36 per share, according to Benzinga Pro.
Salesforce issued guidance for third-quarter revenue of $9.31 billion to $9.36 billion. The company anticipates third-quarter adjusted earnings of $2.42 to $2.44 per share.
Salesforce continues to expect full-year 2025 revenue of $37.7 billion to $38 billion. The company raised its full-year adjusted earnings outlook to a new range between $10.03 and $10.11 per share.
Price Action: CRM shares are trading lower by 0.23% to $247.57 premarket at last check Wednesday.
Photo via Shutterstock
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
