Salesforce buys SteelBricks to solidify its position as a cloud player

January 2, 2016 8:15 pm | Updated 6 years ago.

Salesforce solidifies its position as a leader in cloud computing after buying SteelBrick for $360 million. As a Company, SteelBrick is well-known for automating the process of quoting, contracting and billing their products like SteelBrick CPQ and SteelBrick Billing. This latest acquisition by Salesforce has made it a niche cloud player.

Godard Abel, CEO of SteelBrick said in an interview after the takeover that they are looking forward to working with the team of Salesforce. This acquisition will not only enhance their opportunity to provide service to a wide customer base but will also generate more revenue.

Salesforce Ventures has in its portfolio some big names in the world of cloud – based computing like CartoDB, CloudSense and Cloud9 IDE. Its vision of becoming a pioneer in cloud computing is not very far behind. The New Year would see it take up cloud services in the European region where it envisages making an investment of about $100 million.

Souce:’acquisition given greenlight,
Date of publication: January 1st, 2016