Tuesday 19 September 2017

Salesforce to buy document-editing startup Quip for about $582m

American tech billionaire Marc Benioff.
American tech billionaire Marc Benioff.

Anya George Tharakan

Cloud-based software maker Salesforce said on Monday it agreed to acquire document-editing startup Quip for about $582m.

Salesforce has an existing investment in Quip, whose word-processing platform is designed to be used by teams to edit documents or spreadsheets on mobile devices, wearables and desktops.

Quip will be a wholly owned subsidiary of Salesforce once the deal closes.

Quip Chief Executive Bret Taylor, former chief technology officer of Facebook, was appointed to Twitter's board last month.

Reuters

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