Salesforce to acquire AI voice agent firm Tenyx, joining AI talent race
Sept 3 (Reuters) -Enterprise cloud firm Salesforce CRM.N on Tuesday said it has agreed to acquire Tenyx, which develops artificial intelligence-powered voice agents, to advance its AI-driven solutions.
The acquisition, for which no deal value was disclosed and is expected to close in the third quarter, will see Tenyx's co-founders, CEO Itamar Arel and CTO Adam Earle, along with their team, join Salesforce.
Tenyx, a California-based startup founded in 2022, caters to clients across various industries, including e-commerce, healthcare, hospitality and travel, according to its website.
Last year, Salesforce, under pressure from activist investors, announced plans to double its share buybacks and shift away from acquiring more companies after disbanding its mergers and acquisitions committee.
The San Francisco, California-based company is now looking at acquisitions to re-accelerate its revenue growth.
The move echoes similar deals struck by tech giants Microsoft MSFT.O and Amazon AMZN.O this year, highlighting the increasing competition for AI tools and talent.
Microsoft paid $650 million in March to acquire talent from AI startup Inflection, while Amazon hired several co-founders and employees from Adept, another AI startup, in June.
Salesforce beat Wall Street expectations for second-quarter revenue and profit last week, benefiting from higher spending on its enterprise cloud products.
Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
