Salesforce Acquires Productivity App Quip for $582 Million

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Salesforce has acquired Quip for $582 million, SEC filings show. Quip, which competes against Microsoft Word, was founded in 2012 and has significant raised $40 million in venture capital.

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“The possibilities of mixing data, content and communication are amazing,” says Quip.

Salesforce and Quip share the same philosophy about software: it should be in the cloud, built for the mobile era, and be inherently social. Salesforce pioneered the shift to enterprise cloud computing—and Quip has been working since 2012 to reimagine a productivity platform for teams that allows them to be more connected, more collaborative and get more work done.

Quip was founded by Bret Taylor and Kevin Gibbs, who hail from Facebook and Google.

The deal is expected to close in Salesforce’s fiscal third quarter.

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