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Salesforce Inc. (NYSE:CRM) announced Monday that it signed a definitive agreement to acquire Loops, an artificial intelligence-powered analytics platform, as it expands Tableau's AI capabilities.
Media reports value the deal at approximately $30 million. Salesforce did not disclose the financial terms.
Loops uses machine learning to monitor business performance, explain changes in key metrics and identify opportunities for improvement.
The acquisition aims to strengthen Salesforce's AI-driven analytics strategy by helping businesses understand performance trends and identify actions based on their data.
Loops can operate through Slack and email, allowing users to monitor key performance indicators, detect unusual trends and identify factors driving business changes.
Salesforce plans to integrate Loops' technology and specialized talent into Tableau after the acquisition closes.
Mark Recher, executive vice president and general manager of Tableau, said the technology would help customers identify factors affecting business performance and act on insights more quickly.
Loops CEO and co-founder Tom Laufer said the combination would allow the startup to make its analytics technology available to a broader customer base.
Salesforce expects the transaction to close in early November during its fiscal 2027, subject to customary closing conditions.
The company held $8.3 billion in cash and cash equivalents as of July 31.
Separately, Bank of America upgraded Salesforce on Monday from Underperform to Buy and raised its price forecast from $160 to $285.
Analyst Tal Liani cited improving AI growth prospects and reduced concerns that AI-powered tools could replace traditional enterprise software platforms.
The analyst said Salesforce's Agentforce platform and broader AI strategy could strengthen customer reliance on its software.
Salesforce's Agentforce annual recurring revenue reached $1.5 billion in the fiscal 2027 second quarter, up more than 240% year over year.
The stock carries a Buy rating with an average price forecast of $279.04.
Recent moves from other analysts include Citizens with a Market Outperform rating at a target of $315 on Sept. 18 and Stephens & Co. with an Equal-Weight rating and price forecast at $289 on Sept. 18.
CRM Price Action: Salesforce shares were up 0.48% at $235.05 during premarket trading on Tuesday, according to market data.
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