In 2024, Salesforce took major strides in its mergers and acquisitions strategy after two years of subdued purchasing. While the company has a record of making several acquisitions each year, it often lacked a cohesive strategy. This changed dramatically in 2024, marking a significant evolution in Salesforce’s approach.
In the past, some acquisitions, like Slack in 2021, seemed like smart moves aimed at creating a more unified platform. However, they highlighted gaps in strategy and infrastructure that made fully capitalizing on those purchases challenging. In 2024, Salesforce made strategic moves by acquiring companies like Own, a data backup firm, and Zoomin, specializing in data protection and management.
These two acquisitions underscore a shift toward a more integrated data strategy, which is crucial for maintaining the foundation of Salesforce’s unified platform. Liz Miller, vice president and principal analyst at Constellation Research, noted that the other acquisitions—PredictSpring, a point-of-sale software vendor, and Tenyx, which focuses on AI voice agents—also contributed significantly to this foundation.
Miller pointed out, “Every single acquisition has a place and actually accelerates the move to making that architecture a reality.” This stands in contrast to Salesforce’s earlier approach, where aspirations often led the way without a practical framework. Now, Salesforce seems clearer about its goals, likening them to “shooting aspiration at that North Star.”
The four acquisitions in 2024 reveal Salesforce’s ambition to create a unified platform that integrates data and AI across different functional areas, such as sales and customer service. Own and Zoomin lay the groundwork, while PredictSpring connects physical and digital experiences. For instance, in-store associates can use PredictSpring to manage inventory and offer personalized recommendations, enhancing customer interactions. On the other hand, Tenyx streamlines the post-sale experience by bringing conversational AI into Salesforce’s services.
Looking ahead, Miller suggests that 2025 could pivot toward content and knowledge management for Salesforce, an area where the company currently falls short. She highlighted that while Salesforce has the necessary building blocks, rethinking how to approach content and knowledge could pose a challenge. If Salesforce successfully addresses this gap, it could lead to a more intentional and impactful M&A strategy for its customers.
Michaela Goss, the senior site editor for TechTarget’s Customer Experience and Content Management sites, has been with the company since 2018.