Salesforce has signed a definitive agreement to acquire SteelBrick, a quote-to-cash software provider. The deal is worth approximately $360 million, according to a filing to the U.S. Securities and Exchange Commission.
SteelBrick is a quote-to-cash software and billing solutions provider designed to help small- and mid-sized companies increase sales reps’ ability to configure, price and quote (CPQ) in a timely manner — ultimately allowing users to close deals faster with less errors. The acquisition will position Salesforce users with SteelBrick’s CPQ solution directly within their CRM, keeping buyer information synched while also boosting conversions.
The news comes after the cloud-based marketing and sales solution provider announced the acquisition of MinHash, a learning engine startup based in San Francisco.
“Being a part of Salesforce will give us an amazing opportunity to accelerate our delivery of fully integrated Quote-to-Cash applications right within Salesforce, helping thousands more customers grow revenue faster than ever before,” said SteelBrick CEO Godard Abel in a company blog post. “I’d like to thank all of our customers, partners and employees for their support.”
