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After months of speculation that a deal was in the works, Salesforce today finally announced that it will acquire Vlocity, a provider of industry-specific cloud and mobile software built natively on the Salesforce platform, for approximately $1.33 billion. Salesforce made the announcement as part of its latest financial report.

Vlocity provides its software to some of the world’s top communications, media and entertainment, energy, utility, insurance, health, and government organizations. As part of Salesforce, Vlocity’s feature set will continue to enhance and complement Salesforce’s industry capabilities and product knowledge, open up new industry capabilities built on the Salesforce platform, and provide customers with even more tools and expert guidance to digitally transform. 

“With today’s news, the voice of the customer just magnified. The best customer experiences are industry-specific. Together, our customers, our partners, and our employees have accomplished so much. I am thrilled about our future with Salesforce,” David Schmaier, CEO and founder of Vlocity, wrote in a blog post.

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